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RBI Board approves transfer of Rs 57,128 crore as surplus to govt

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RBI Board approves transfer of Rs 57,128 crore as surplus to govt

The RBI Board on Friday accredited the transfer of Rs 57,128 crore as surplus to the central authorities for the accounting yr 2019-20, the central financial institution stated in an announcement. The determination was taken on the 584th assembly of the Central Board of the Reserve Bank of India chaired by Governor Shaktikanta Das.

The Board reviewed the present financial state of affairs, continued international as properly as home challenges, and financial, regulatory and different measures taken by the RBI to mitigate the financial influence of COVID-19 pandemic.

“The Board also 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 per cent,” the RBI stated in an announcement.

Further, the Central Board mentioned the proposal of establishing an Innovation Hub.

It additionally mentioned numerous areas of operations of the financial institution over the last yr, and accredited the annual report and accounts of the of the Reserve Bank for 2019-20.

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