A Reserve Bank of India logo at RBI headquarters in Mumbai. File | Photo credit: The Hindu

On May 19, the Reserve Bank approved a dividend payment of ₹87,416 crore to the central government for 2022-23, almost triple what it paid in the previous year.

The dividend payout was ₹30,307 crore for the 2021-22 accounting year.

The decision was taken during the 602nd meeting of the Central Board of the Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.

“The board approved the transfer of ₹87,416 crore as surplus to central government for the 2022-23 accounting year, while deciding to maintain the emergency risk buffer at 6%,” RBI said in a statement. a statement.

The council also reviewed the global and domestic economic situation and associated challenges, including the impact of current global geopolitical developments.

The council also discussed the functioning of the RBI in 2022-23 and approved the central bank’s annual report and accounts for the year.