Mahesh kumar jain, Deputy governor of the Reserve Bank of India

The Reserve Bank of India (RBI) on Friday decided to transfer a surplus of Rs 99,122 crore to the Central government.The decision was taken at 589th meeting of the RBI's central board of directors."With the change in the Reserve Bank's accounting year to April to March (earlier July to June), the board discussed the working of the Reserve Bank of India during the transition period of nine months (July 2020 to March 2021) and approved the annual report and accounts of the Reserve Bank for the transition period," according to an official statement."The board also approved the transfer of Rs 99,122 crore as surplus to the Central government for the accounting period of nine months ended March 31, 2021 (July 2020 to March 2021)," it said.As the manager of government finances, the RBI pays a dividend every year from its surplus profit. Last year, it transferred 44 per cent of its surplus to the Central government at Rs 57,128 crore.The board in its meeting also reviewed the current economic situation, global and domestic challenges and recent policy measures taken by the RBI to mitigate the adverse impact of Covid-19's second wave on the economy.Deputy Governors Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar and other directors N Chandrasekaran, Satish K. Marathe, S Gurumurthy, Revathy Iyer and Sachin Chaturvedi attended the meeting.Debasish Panda, Secretary at the Department of Financial Services, and Ajay Seth, Secretary at the Department of Economic Affairs, were also present.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Mahesh Kumar Jain, NewsFOLLOW

Mahesh kumar jain, Latest News

National :Rape accused in Kanpur swallows lizard to avoid going to jail

Kanpur, July 10 A man, accused of abducting and raping a teenage girl, allegedly swallowed a lizard in ... ...

Politics :One client will not affect Indian banking system: RBI Governor on Adani row

Chennai, Feb 8 An individual client Adani Group will not bring down the Indian banking system ... ...

National :Centre re-appoints Mahesh Kumar Jain as RBI Deputy Governor

The Centre on Wednesday re-appointed former IDBI Bank managing director (MD) and chief executive officer (CEO) Mahesh Kumar Jain, as the deputy governor of the Reserve Bank of India (RBI) for a period of two years. ...

Business :RBI to transfer Rs 99,122 crore surplus to govt

The Reserve Bank of India (RBI) on Friday decided to transfer a surplus of Rs 99,122 crore to the Central government. ...