RBI to transfer Rs 52,679 cr surplus profit to govt

Tags: Economy
The Reserve Bank will transfer to the Centre its surplus profit of Rs 52,679 crore, about 60 per cent more than the amount given last year.

"The Central Board of Directors of the Reserve Bank of India...Approved the transfer of surplus amounting to Rs 526.79 billion for the year ended June 30, 2014 to the Government of India," the central bank said in a statement adding the transfer will take place today.

Last year, the RBI had transfered its Rs 33,010 crore surplus profit to the Centre.

The amount will provide some help to the government, which proposes to bring down the fiscal deficit to 4.1 per cent of GDP this fiscal from 4.5 per cent last year.

The Reserve Bank follows the July-June accounting year.

EDITORIAL OF THE DAY

  • Taking development to the hinterland that is ruled by the left extremists is the only lasting solution

    In 2010, it was the 82nd battalion of Central Reserve Police Force (CRPF) that virtually got decimated in Dantewada district after a guerrilla operati

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Disequilibrium : THE UGLY AND INCONVENIENT TRUTH

Same song, different verse. The time for polemics over how ...

Urs Schoettli

On the brink, indeed

Once again the Korean Peninsula is on the brink of ...

Zehra Naqvi

How to lower your anxiety

Emotional states of a person have a direct connection with ...