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Business Tit Bits : Raiding the RBI


The Reserve Bank of India has approved the transfer of record Rs 1.76 lakh crore dividend and surplus reserves to the government, boosting Prime Minister Narendra Modi-led regime’s prospect to stimulate the slowing economy without widening the fiscal deficit. Governor Shaktikanta Das-led RBI central board gave its nod for transferring to the government a sum of Rs 1,76,051 crore comprising Rs 1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework. Now, this RBI receipt will certainly give the govt’s effort to boost the economy which is currently at a 5 year low. #RBI #NarendraModi #NirmalaSitharaman

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