If the Central Board of RBI accepts the request of the government, the total surplus transfer in FY19 by the central bank will reach Rs 68,000 crore.
The Finance Ministry has sought Rs 27380 crore from the RBI. This amount has been kept by the central bank for the last few years as a reserve cover and reserve, inform sources. The Reserve Bank had kept Rs 13,190 crore as risk and reserve during 2016-17 and kept Rs 14,190 crore in 2017-18. Thus, the RBI has a total amount of Rs 27,380 crore.
Sources said that the Finance Ministry has requested the interim dividend from the central bank for the current financial year on the credit of last financial year and transfer of the amount kept from the surplus of the last two financial years. In the beginning of this month, Economic Affairs Secretary Subhash Chandra Garg had said that in the current financial year, the government is expected to get interim dividend of Rs 28,000 crore from the Reserve Bank of India.
RBI has already paid 400 million in FY19
In the financial year 2018-19, the government has already received Rs 40,000 crore from the Reserve Bank. If the central board of the RBI accepts the government’s request of 28,000 crores in the form of interim dividend, then the central bank will reach a total surplus transfer of Rs 68,000 crore in 2018-19.
According to sources, the government is expected to get Rs 69,000 crore as dividend in the next financial year. The government is estimated to get dividend of Rs 82,911.56 crore during the year 2019-20 from the RBI, National Banks and Financial Institutions.