The Reserve Bank of India (RBI) approved a dividend payment of Rs 57,128 crore to the government.
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The RBI board approved the transfer of Rs 57,128 crore as surplus to the central government for the accounting year 2019-20, while deciding to maintain the contingency risk buffer at 5.5%.
The decision was taken at the 584th meeting of the Central Board of the RBI chaired by governor Shaktikanta Das.
Earlier in the Union Budget, the government had budgeted Rs 60,000 crore as dividend from the central bank as well as state-run financial institutions.
This push from the Reserve Bank comes at a time when the government is staring at a record high fiscal deficit of Rs 6.62 lakh crore in the April-June period as the coronavirus affected the Centre's revenue targets.
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