Economy & Business

    RBI dividend Rs 87,416 crore for government

    The Hawk
    May19/ 2023

    Mumbai: On Friday, the Reserve Bank of India approved a dividend distribution to the central government in the amount of Rs 87,416 crore, roughly quadruple the amount paid out in 2022-23.

    Central banks and state-owned financial institutions have paid out dividends that far exceed the amount predicted in the Union Budget 2023-24.

    In this fiscal year, the government hoped to receive Rs 48,000 crore from the RBI, public sector banks, and other financial institutions.—Inputs from Agencies