RBI to pay Rs 50,000 crore dividend to Govt for FY18

MUMBAI, Aug 8: The Reserve Bank of India (RBI) on Wednesday said it has decided to pay a dividend of R 50,000 crore to the Union government for the year ending June 30, 2018. The decision was taken at its board meeting held here. “The Central Board of Directors of the Reserve Bank of India, at its meeting held on August 8, 2018, approved the transfer of surplus amounting to s 500 billion for the year ended June 30, 2018 to the Government of India,” the RBI said in a statement. The RBI follows July-June financial year. The RBI had last year transferred a surplus of s 30,659 crore as dividend to the government for the year ended June 30, 2017, which was less than half of what it paid in the previous year (s 65,876 crore). (Agencies)