New Delhi | The Reserve Bank of India (RBI) approved a record Rs.1.76 lakh-crore ($24.4 billion) payout to the central government, amid a slowing economy.
The central bank’s board approved a transfer, which includes Rs. 1.23 lakh crore as dividend and Rs. 52,640 crore from its surplus capital, according to a statement. The dividend payment includes Rs. 28,000 crore already transferred to the government in February.
The payment from its surplus capital comes after the RBI’s board accepted the recommendations of a panel named by it to study its economic capital framework, it said.