RBI To Pay Record Rs 2.11 Lakh Crore Dividend to Government
7 months ago

RBI To Pay Record Rs 2.11 Lakh Crore Dividend to Government

Deccan Chronicle  

Mumbai: The Reserve Bank of India's board on Wednesday approved the transfer of record Rs 2.11 lakh crore as dividend to the Central government for accounting year 2023-2024. This is the highest ever surplus paid by the central bank to the government and is a 141 per cent jump from Rs 87420 crore dividend paid in the financial year ended March 2023. 2.11 lakh crore is well above the budgeted figure of Rs 1.5 lakh crore in the Interim Budget for FY2025 under dividends and profits, which includes dividends from public sector institutions. Aditi Nayar, Chief Economist, Head Research and Outreach, ICRA Ltd said, “The higher-than-budgeted RBI surplus transfer would help to boost the GoI's resource envelope in FY2025, allowing for enhanced expenditures or a sharper fiscal consolidation than what was pencilled into the Interim Budget for FY2025.

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History of this topic

Dividend bounty: Finance Minister Nirmala Sitharaman receives record SBI dividend cheque of ₹6,959.29 crore for FY24
6 months ago

Dividend bounty: Finance Minister Nirmala Sitharaman receives record SBI dividend cheque of ₹6,959.29 crore for FY24

Live Mint  

Finance Minister Nirmala Sitharaman received a dividend cheque of ₹6,959.29 crore for FY 2023-24 from SBI Chairman Dinesh Kumar Khara, the finance minister's office announced on Friday. “Smt@nsitharaman receives a dividend cheque of ₹6959.29 crore for FY 2023-24 from@TheOfficialSBI Chairman Shri Dinesh Kumar Khara,” the finance minister's official handle, @nsitharamanoffc, posted on X. According to a February report in Mint, …

RBI's Balance Sheet Rises 11 pc to Rs 70.47 Lakh Cr in FY24
6 months, 3 weeks ago

RBI's Balance Sheet Rises 11 pc to Rs 70.47 Lakh Cr in FY24

Deccan Chronicle  

In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as of March 2023. The central bank's net income stood at Rs 2.11 lakh crore at end-March 2024 after making a provision of Rs 42,819.91 crore, significantly down from Rs 1,30,875.75 crore in the preceding fiscal. Last week, the RBI approved the highest-ever dividend payout of …

DC Edit | RBI’s booster shot to economy
6 months, 4 weeks ago

DC Edit | RBI’s booster shot to economy

Deccan Chronicle  

The Reserve Bank of India transferred a whopping amount of Rs 2.1 lakh crores to the Central government as a dividend payout, giving a booster shot to volatile stock markets. The current payout is 141 per cent higher than the ₹87,416 crores that the RBI had given the Central government last year and is Rs 1.1 lakh crores more than …

RBI board approves transfer of ₹2,10,874 crore surplus to Centre for FY24
7 months ago

RBI board approves transfer of ₹2,10,874 crore surplus to Centre for FY24

The Hindu  

In a windfall gain for the Centre, the Central Board of Directors of the Reserve Bank of India on Wednesday approved the transfer of a record ₹2,10,874 crore as surplus to the Union government for the accounting year 2023-24. “The Board also discussed the working of the Reserve Bank during the year April 2023 – March 2024 and approved the …

RBI approves ₹2.11 lakh crore dividend payout to govt for 2023-24
7 months ago

RBI approves ₹2.11 lakh crore dividend payout to govt for 2023-24

The Hindu  

The Reserve Bank of India on May 22 approved a ₹2.11 lakh crore dividend payout to the central government for 2023-24, more than double the amount it paid for the previous 2022-23 financial year. The decision was taken at the 608th meeting of the Central Board of Directors of the Reserve Bank of India held under the chairmanship of Governor …

97.76 per cent of Rs 2,000 currency notes returned, says RBI
7 months, 3 weeks ago

97.76 per cent of Rs 2,000 currency notes returned, says RBI

India TV News  

The Reserve Bank of India revealed that as of May 2, 97.76% of the Rs 2,000 currency notes in circulation since May 19, 2023, have been reintegrated into the banking system. The total value of Rs 2,000 banknotes dropped significantly from Rs 3.56 lakh crore in May 2023 to just Rs 7,961 crore by April 30, 2024, marking a substantial …

FPIs reverse trend; infuse Rs 1,500 crore into Indian equities in February
9 months, 3 weeks ago

FPIs reverse trend; infuse Rs 1,500 crore into Indian equities in February

India TV News  

Foreign investors made a significant turnaround and injected over Rs 1,500 crore into Indian equities in February, reversing the massive outflows seen in the preceding month, primarily due to robust corporate earnings and positive economic growth. Additionally, Foreign Portfolio Investors continued to be bullish on the debt markets as they put in over Rs 22,419 crore during the month under …

Impact of ₹2,000 notes withdrawal: Currency-in-circulation growth dips to 3.7% in February
9 months, 4 weeks ago

Impact of ₹2,000 notes withdrawal: Currency-in-circulation growth dips to 3.7% in February

The Hindu  

The growth in currency in circulation decelerated to 3.7% for the week ended February 9 from 8.2% a year ago, reflecting the impact of the decision of the Reserve Bank of India to withdraw ₹2,000 banknotes. According to the RBI, commercial banks have reported double-digit growth in deposits in January, which too can be attributed to withdrawal of ₹2,000 currency …

More than 97 per cent of Rs 2,000 notes returned, Rs 10,000 cr worth currency still with public: RBI
1 year, 1 month ago

More than 97 per cent of Rs 2,000 notes returned, Rs 10,000 cr worth currency still with public: RBI

India TV News  

The Reserve Bank of India on Wednesdays said more than 97 per cent of the Rs 2,000 banknotes in circulation have been returned to the banking system. The RBI in a statement said, "The total value of Rs 2,000 banknotes in circulation, which amounted to Rs 3.56 lakh crore as at the close of business on May 19, 2023 when …

Indians still hold Rs 12,000 cr in Rs 2,000 notes that will go out of circulation soon
1 year, 2 months ago

Indians still hold Rs 12,000 cr in Rs 2,000 notes that will go out of circulation soon

Firstpost  

RBI Governor Shaktikanta Das said, so far, nearly 87 per cent of Rs 2,000 banknotes have been returned to the banks in form of deposits Reserve Bank of India Governor Shaktikanta Das on Friday said 2,000 rupee notes worth Rs 12,000 crore are still in circulation. “Rs 12,000 crore of the Rs 3.56 lakh crore worth of Rs 2,000 notes …

RBI says 88% of ₹2,000 notes returned to banks
1 year, 4 months ago

RBI says 88% of ₹2,000 notes returned to banks

The Hindu  

The Reserve Bank on August 1 said 88% of the ₹2,000 banknotes valued at ₹3.14 lakh crore have returned to the banking system after it announced the withdrawal of the high-value currency notes from circulation in May. According to the data received from banks, the RBI said the total value of ₹2,000 banknotes received back from circulation is ₹3.14 lakh …

‘Over Two-Third Of Rs 2,000 Notes Have Returned To System’: RBI Governor
1 year, 5 months ago

‘Over Two-Third Of Rs 2,000 Notes Have Returned To System’: RBI Governor

News 18  

Reserve Bank of India Governor Shaktikanta Das on Sunday said that within a month of the withdrawal order of Rs 2,000 notes, more than two-thirds of the total currency in circulation has returned to the system. Speaking in an interview with PTI, Governor Shaktikanta Das said, “More than two-thirds or Rs 2.41 lakh crore worth of the Rs 3.62 lakh …

Currency In Circulation Dips To 5.3% Due To Rs 2,000 Note withdrawal; Digital Payments Rise RBI Bulletin
1 year, 6 months ago

Currency In Circulation Dips To 5.3% Due To Rs 2,000 Note withdrawal; Digital Payments Rise RBI Bulletin

ABP News  

Currency in circulation, which is the largest part of the reserve money, declined to 5.3 per cent from 8.3 per cent in the year-ago period due to the withdrawal of Rs 2,000 notes from circulation and an increase in digital mode of payments, the Reserve Bank of India said in its bulletin on Friday. The RBI also reported that reserve …

Currency In Circulation Rises In Value, Volume In FY23, Says RBI's Annual Report
1 year, 6 months ago

Currency In Circulation Rises In Value, Volume In FY23, Says RBI's Annual Report

ABP News  

The Reserve Bank of India's annual report said that the value and volume of currency in circulation rose by 7.8 per cent and 4.4 per cent, respectively, during the financial year 2022-23 as compared with 9.9 per cent and 5.0 per cent, respectively, during 2021-22. The circulation of Rs 2,000 banknotes showed a total value of Rs 3.62 lakh crore, …

RBI says India’s growth momentum to continue in FY24; stresses on structural reforms
1 year, 6 months ago

RBI says India’s growth momentum to continue in FY24; stresses on structural reforms

The Hindu  

The Reserve Bank on May 30 said that India’s growth momentum is likely to continue in 2023-24 even as it made a case for pushing structural reforms to deal with the geopolitical developments and also to achieve sustained growth in the medium-term. The Reserve Bank’s annual report flagged slowing global growth, protracted geopolitical tensions and a possible upsurge in financial …

All You Need To Know About Printing And Production Of Currency Notes
1 year, 7 months ago

All You Need To Know About Printing And Production Of Currency Notes

News 18  

Sher Shah Suri coined the term “Rupee” to describe Indian currency. The Reserve Bank of India recently announced the withdrawal of Rs 2000 currency notes. The Reserve Bank of India is responsible for printing currency notes. The RBI incurs the highest cost in printing the Rs 10 currency notes. At the same time, it costs Rs 1130 to print one …

RBI Withdraws Rs 2000 Currency Note From Circulation How To Exchange From Banks Which Date
1 year, 7 months ago

RBI Withdraws Rs 2000 Currency Note From Circulation How To Exchange From Banks Which Date

ABP News  

More than six years after it was introduced in November 2016, the Reserve Bank of India has decided to withdraw Rs 2,000 notes from circulation. The RBI introduced the Rs 2,000 note in November 2016 after after Prime Minister Narendra Modi demonetised Rs 1,000 and Rs 500 notes overnight in a bid to curtail black money, eradicate fake currency notes, …

RBI to withdraw ₹2000 currency note from circulation
1 year, 7 months ago

RBI to withdraw ₹2000 currency note from circulation

Hindustan Times  

The Reserve Bank of India on Friday withdrew ₹2,000 currency notes from circulation. The ₹2,000 denomination bank note was introduced in November 2016 after the Modi government had introduced demonetisation of ₹500 and ₹1,000 notes. As per RBI, the objective of introducing ₹2,000 notes was met once banknotes in other denominations became available in adequate quantities. The people may deposit …

RBI Board Approves Rs 87,416 Crore Dividend Payout To Centre For 2022-23
1 year, 7 months ago

RBI Board Approves Rs 87,416 Crore Dividend Payout To Centre For 2022-23

ABP News  

The Reserve Bank of India on Friday approved Rs 87,416 crore dividend payout to the central government for 2022-23, nearly triple of what it paid in the previous year. "The board approved the transfer of Rs 87,416 crore as surplus to the central government for accounting year 2022-23, while deciding to keep the Contingency Risk Buffer at 6 per cent," …

Economists Estimate RBI Dividends To Centre May Double Due To Revaluation Gains: Report
1 year, 7 months ago

Economists Estimate RBI Dividends To Centre May Double Due To Revaluation Gains: Report

ABP News  

The Reserve Bank of India board may nearly double its dividend to the government from official estimates due to revaluation gains and profits from selling dollars, citing economists news agency Bloomberg reported. Amid early indications of slowing growth accompanied by elevated interest rates and declining global demand, a higher dividend may assist the government in achieving its objective of reducing …

RBI board to meet today, expected to consider dividend payout to government
1 year, 7 months ago

RBI board to meet today, expected to consider dividend payout to government

Live Mint  

The Reserve Bank of India’s board will meet on today i.e. During the meeting, the board is expected to consider a dividend payout to the government, people with knowledge of the matter told Bloomberg. During the May board meeting, the authority typically reviews its finances and how much it can transfer to the government. Also Read: New rule for international …

Number of ₹2000 currency notes in circulation continue to decline
2 years, 6 months ago

Number of ₹2000 currency notes in circulation continue to decline

The Hindu  

The number of banknotes of ₹2000 denomination has steadily declined over the years to touch 214 crore or 1.6% of the total currency notes in circulation at the end of March this year, according to RBI annual report. At the end of March 2020, the number of ₹2000 denomination notes in circulation stood at 274 crore, accounting for 2.4% of …

Budget 2022: Expanding PLI schemes to small businesses will democratise Atmanirbhar Bharat
2 years, 10 months ago

Budget 2022: Expanding PLI schemes to small businesses will democratise Atmanirbhar Bharat

Firstpost  

It’s Budget time and almost everyone has high expectations of India’s finance minister. Before the previous year’s Budget, the mood was dull, with expectations revolving around government support through regulatory measures, and not much around tax cuts. What we expect from Budget 2022 Fintech • Given the stellar role played by fintech in the financial inclusion of a scale unheard …

Rs 2,000 Notes Not Printed in Last 2 Years, Govt Tells Lok Sabha
3 years, 9 months ago

Rs 2,000 Notes Not Printed in Last 2 Years, Govt Tells Lok Sabha

News 18  

Rs 2,000 currency notes have not been printed in the last two years even as the quantum of India’s highest denomination currency note has come down, the Lok Sabha was informed Monday. In a written reply, Minister of State for Finance Anurag Singh Thakur said 3,362 million currency notes of Rs 2000 denomination were in circulation on March 30, 2018, …

RBI Surplus Transfer to Govt at 44%; Lowest in Last 7 Years: Former Fin Secy SC Garg
4 years, 3 months ago

RBI Surplus Transfer to Govt at 44%; Lowest in Last 7 Years: Former Fin Secy SC Garg

News 18  

Former Finance Secretary SC Garg said on Wednesday that the RBI transferred only 44 per cent of its surplus or income to the government, which is the lowest in percentage terms in the last seven years. Earlier this month, the RBI board approved a surplus transfer of Rs 57,128 crore to the central government for Accounting Year 2019-20. In August …

₹2,000 notes were not printed in 2019-20: RBI annual report
4 years, 3 months ago

₹2,000 notes were not printed in 2019-20: RBI annual report

The Hindu  

Currency notes of ₹2,000 denomination were not printed in 2019-20 and the circulation of these notes have declined over the year, according to RBI’s annual report. The number of ₹2,000 currency notes in circulation has come down from 33,632 lakh pieces at end-March 2018 to 32,910 lakh pieces at end-March 2019 and further to 27,398 lakh pieces at end-March 2020, …

RBI to transfer ₹57,128 crore surplus to Centre for FY20
4 years, 4 months ago

RBI to transfer ₹57,128 crore surplus to Centre for FY20

The Hindu  

The board of the Reserve Bank of India has approved the transfer of ₹57,128 crore as surplus to the government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5%, the RBI said in a statement on Friday. “The Board reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory and …

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