RBI board approves Rs 87,416 cr as surplus to Central Government

The Board in its meeting reviewed the global and domestic economic situation and associated challenges including the impact of current global geopolitical developments.

RBI board approves Rs 87,416 cr as surplus to Central Government

New Delhi: The 602nd meeting of the Central Board of Directors of Reserve Bank of India was held on May 20, 2023 at Mumbai under the Chairmanship of Shri Shaktikanta Das, Governor. The Board in its meeting reviewed the global and domestic economic situation and associated challenges including the impact of current global geopolitical developments.

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The Board also discussed the working of the Reserve Bank during the year April 2022 – March 2023 and approved the Annual Report and accounts of the Reserve Bank for the accounting year 2022-23. The Board approved the transfer of Rs 87,416 crore as surplus to the Central Government for the accounting year 2022-23 while deciding to keep the Contingency Risk Buffer at 6%.

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Deputy Governors Shri Mahesh Kumar Jain, Dr. Michael Debabrata Patra, Shri M. Rajeshwar Rao, Shri T. Rabi Sankar and other Directors of the Central Board, viz. Shri Satish K. Marathe, Smt. Revathy Iyer, Prof. Sachin Chaturvedi, Shri Anand Gopal Mahindra, Shri Pankaj Ramanbhai Patel and Dr. Ravindra H. Dholakia attended the meeting. Shri Ajay Seth, Secretary, Department of Economic Affairs also attended the meeting.

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