The RBI board has approved a surplus transfer to the central government of Rs. 30,307 crores

The Reserve Bank of India (RBI) board of directors met in Mumbai on Friday and approved a surplus transfer to the Central Government of Rs 30,307 crores for the fiscal year 2021-22 while keeping the Contingency Risk Buffer at 5.50 percent without specifying the amount.

Governor Shaktikanta Das presided over the 596th meeting of the Reserve Bank of India’s central board. The RBI said in a statement that the board discussed the current economic situation, global and domestic challenges, and the impact of recent geopolitical developments. 

Board discussed RBI operation

“The Board also discussed the Reserve Bank’s operations from April 2021 to March 2022 and approved the Reserve Bank’s Annual Report and Accounts for the accounting year 2021-22,” it continued.

The meeting was attended by Deputy Governors Mahesh Kumar Jain, Dr. Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar, as well as other Central Board directors Satish K. Marathe, S. Gurumurthy, Revathy Iyer, and Prof. Sachin Chaturvedi.

The meeting was also attended by Ajay Seth, Secretary, Department of Economic Affairs, and Sanjay Malhotra, Secretary, Department of Financial Services.

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