BANK NEWS
RBI Board meet over dividend on August 14
New Delhi: The Reserve Bank of India Board meeting is scheduled for August 14, 2020, to discuss the transfer of dividends to the government, according to the sources. According to the Union Budget 2020-21, the government of India has budgeted Rs ?60,000 crores as dividends from RBI and state-run banks and financial institutions.
The Chief Economist Soumyakanti Ghosh, State Bank of India gives his view over the liquidation in the banking system he said, “The liquidity situation, given that there has been a preponderance of excess liquidity in the banking system, which is parked with RBI, may have a connotation in the form of a lower dividend to government,"
“Dividend transfer also needs to be juxtaposed against the possibility of monetization of government deficit in the current fiscal" he added.
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