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 Reserve Bank’s Annual Report and Financial Statements for the year 2023-24,” it added. “The transferable surplus for the year has been arrived at on the basis of the Economic Capital Framework adopted by the Reserve Bank on August 26, 2019, as per recommendations of the Expert Committee to Review the extant Economic Capital Framework of the Reserve Bank of India,” the RBI said in a statement. “The amount of ₹2,10,874 crore is well above the budgeted figure of ₹1,50,000 crore in the Interim Budget for 2004-25 under dividends and profits, which includes dividends from PSUs,” noted Aditi Nayar, Chief Economist, Head Research and Outreach, ICRA Ltd. “The higher-than-budgeted RBI surplus transfer would help to boost the Government of India’s resource envelope in 2024-25, allowing for enhanced expenditures or a sharper fiscal consolidation than what was pencilled into the Interim Budget for FY2024-25,” she said.

Board Bank Economic Dividend Crore Rbi Reserve Crb Ecf Surplus Transfer  board  reserve  crore  centre  economic  rbi  210874  surplus  transfer  dividend  transferred  crb  approves  bank  fy24

History of this topic

FII selling crosses ₹2 trillion in FY25, may cross FY22 record
3 weeks, 6 days ago

FII selling crosses ₹2 trillion in FY25, may cross FY22 record

Live Mint  

Investors exiting India have net-sold over ₹2 trillion worth of shares this fiscal, setting the stage for what could be the worst year for foreign portfolio outflows on NSE's secondary market. As US bond yields rose and quarterly earnings disappointed amid lofty valuations, foreign institutional investors net-sold a record ₹1.17 trillion in the secondary market in NSE's cash segment in …

NSE Q2 Results: Net profit rises 57% to ₹3,137 crore, total income up 25% YoY
1 month, 2 weeks ago

NSE Q2 Results: Net profit rises 57% to ₹3,137 crore, total income up 25% YoY

Live Mint  

New Delhi, Nov 4 The National Stock Exchange on Monday reported a 57 per cent year-on-year surge in consolidated net profit to ₹3,137 crore for the September quarter. The exchange posted a total income of ₹5,023 crore during the July-September period of the current financial year, up 25 per cent on a year-on-year basis. For the half-year ended September 30, …

India’s current account deficit in Q1 FY25 widens to $9.7 billion
2 months, 3 weeks ago

India’s current account deficit in Q1 FY25 widens to $9.7 billion

The Hindu  

India’s current account deficit widened marginally to $ 9.7 billion in Q1:2024-25 from $8.9 billion in Q1:2023-24 and against a surplus of $4.6 billion in Q4:2023-24, according to dada released by the Reserve Bank of India on Monday. The current account surplus for Q4:2023-24 was revised downwards to $4.6 billion from US$ 5.7 billion earlier due to an upward adjustment …

Indian Bank plans to recover bad debts of ₹7,000 cr. in FY25
4 months, 3 weeks ago

Indian Bank plans to recover bad debts of ₹7,000 cr. in FY25

The Hindu  

Indian Bank is planning to recover bad debts of ₹7,000 crore in FY25 against ₹8,800 crore recovered in the year ago period, said its top executive. We will be making a recovery of around ₹7,000 crore,” MD & CEO Shanti Lal Jain said at the press meet. To a question, how much they are planning to recover through Asset Reconstruction …

Central government debt set to double to ₹185 trillion by FY25 amid fiscal challenges and policy shifts
4 months, 3 weeks ago

Central government debt set to double to ₹185 trillion by FY25 amid fiscal challenges and policy shifts

Live Mint  

India's central government debt is projected to escalate to ₹185.27 trillion, or 56.8% of GDP, by the financial year 2024-25, up from ₹93.26 trillion, or 49.3% of GDP, in 2018-19, the minister of state for finance Pankaj Chaudhary said in a written reply to the Lok Sabha on Monday. This projected increase in debt follows a significant rise over the …

ICICI Bank Q1 net profit grows 14.6% to ₹11,059 crore
4 months, 3 weeks ago

ICICI Bank Q1 net profit grows 14.6% to ₹11,059 crore

The Hindu  

ICICI Bank Ltd. reported Q1 FY25 net profit grew 14.6% year-on-year to ₹11,059 crorebeating estimates led by treasury gains and other income. Net interest income of the private sector bank for June quarter rose 7.3% YoY to ₹19,553 crore, the bank said in a filing. “We are comfortable with the asset quality andour strategy is to grow in a risk …

Tamil Nadu government plans to borrow ₹24,000 crore in Q2, 2024-25
5 months, 3 weeks ago

Tamil Nadu government plans to borrow ₹24,000 crore in Q2, 2024-25

The Hindu  

Tamil Nadu government plans to borrow ₹24,000 crore in the second quarter of fiscal 2024-2025, as per the Indicative Calendar of Market borrowings by State governments/Union Territories, released by the Reserve Bank of India. Tamil Nadu government plans to borrow a total amount of ₹1,55,584.48 crore during 2024-25 and make repayment of ₹49,638.82 crore, as per the State Budget. At …

Foreign portfolio investors invest ₹26,565 crore in Indian equities in June
5 months, 3 weeks ago

Foreign portfolio investors invest ₹26,565 crore in Indian equities in June

The Hindu  

After two months of net outflow, foreign investors turned buyers in June, infusing ₹26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets. According to the data with the depositories, Foreign Portfolio Investors have made a net infusion of ₹26,565 crore in equities this month. Geojit Financial Services Chief Investment Strategist V. K. Vijayakumar said …

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 …

RBI's balance sheet size is now 2.5 times the size of Pakistan's GDP
6 months, 3 weeks ago

RBI's balance sheet size is now 2.5 times the size of Pakistan's GDP

Hindustan Times  

The Reserve Bank of India’s balance sheet size rose 11.08 per cent to ₹70.48 lakh crore as of March 31, 2024, the central bank said in its annual report. The central bank's balance sheet size at US$844.76 is nearly 2.5 times that of Pakistan's entire GDP which has been estimated to be around $338.24 billion by the International Monetary Fund. …

Welcome bounty: On the RBI’s ₹2.11-lakh-crore transfer to the Union government
6 months, 4 weeks ago

Welcome bounty: On the RBI’s ₹2.11-lakh-crore transfer to the Union government

The Hindu  

The decision by the Reserve Bank of India’s board to transfer a record surplus of almost ₹2.11 lakh crore to the Union government for 2023-24 will serve as a welcome shot in the arm for the new government when it presents its Budget in July. More than double the previous year’s ₹87,416 crore payout as well as the ₹1.02 lakh …

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 …

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 …

Govt’s FY24 tax collection target broadly met on back of robust economic activity: Report
8 months, 3 weeks ago

Govt’s FY24 tax collection target broadly met on back of robust economic activity: Report

Live Mint  

The central government’s tax collection target of over ₹34.37 lakh crore for fiscal year 2023-24 has been broadly met on the back of robust economic activity and improved compliance, according to a report by PTI. The net direct tax collection grew 19.88 per cent to over ₹18.90 lakh crore till March 17 on higher advance tax mop-up. Advance tax collections …

Fiscal deficit for Apr-Feb hits 86.5% of FY24 target
8 months, 3 weeks ago

Fiscal deficit for Apr-Feb hits 86.5% of FY24 target

New Indian Express  

NEW DELHI: India’s fiscal deficit for April to February of FY24 reached Rs 15.01 lakh crore, representing nearly 86.5% of the target set for the full financial year, according to the government data. During the corresponding period in the previous year, the fiscal deficit was recorded at Rs 14.53 lakh crore. As of February 2024, the Government of India has …

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 …

India's June quarter current account deficit narrows to 1.1 per cent: RBI
1 year, 2 months ago

India's June quarter current account deficit narrows to 1.1 per cent: RBI

Hindustan Times  

India's current account deficit narrowed to USD 9.2 billion or 1.1 per cent of GDP for the April-June period, the Reserve Bank said on Thursday. The net external commercial borrowings to India recorded an inflow of USD 5.6 billion in the quarter compared to an outflow of USD 2.9 billion a year ago, the RBI said The current account deficit, …

RBI refused Rs 2-3 lakh crore transfer to government in 2018: Viral Acharya
1 year, 3 months ago

RBI refused Rs 2-3 lakh crore transfer to government in 2018: Viral Acharya

India Today  

Former RBI deputy governor Viral Acharya shared more details about the events that led to the public clash between the government and the Reserve Bank of India in 2018, just a year before the 2019 Lok Sabha elections. In an updated prelude to his book, Quest for Restoring Financial Stability, he disclosed that the Reserve Bank of India refused the …

Credit card default rises to Rs 4,072 crore in FY23
1 year, 4 months ago

Credit card default rises to Rs 4,072 crore in FY23

India TV News  

Credit card default rose to Rs 4,072 crore or 1.94 per cent at the end of March 2023, Parliament was informed on Tuesday. "As per the inputs received from RBI, in respect of defaults in credit cards, the gross non-performing assets in credit cards was Rs 3,122 crore in March-2022 and Rs 4,072 crore in March-2023, while credit card outstanding …

CAD narrows to 0.2% of GDP in Q4 FY23 on lower trade deficit, higher services exports
1 year, 5 months ago

CAD narrows to 0.2% of GDP in Q4 FY23 on lower trade deficit, higher services exports

The Hindu  

India's current account deficit narrowed to $1.3 billion or 0.2% of GDP in the January-March quarter of FY23, mainly due to moderation in the trade deficit and a robust increase in services exports, RBI data showed on June 27. “India’s current account deficit decreased to $1.3 billion in Q4:2022-23 from $16.8 billion in Q3:2022-231, and $13.4 billion a year ago,” …

Net FPI inflows stand at USD 8.4 billion during current financial year: RBI gov
1 year, 6 months ago

Net FPI inflows stand at USD 8.4 billion during current financial year: RBI gov

Live Mint  

The Reserve Bank of India governor Shaktikanta Das on Thursday said that the net Foreign portfolio investment inflows stand at USD 8.4 billion during the current financial year upto June 6 as against net outflows in the proceeding two years where USD 14.1 billion in 2021-22 and 5.9 billion in 2022-23. The net FPI inflows stand at USD 8.4 billion …

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 …

Government's total liabilities rise 2.6% to ₹150.95 lakh crore in Q3 FY23: Report
1 year, 8 months ago

Government's total liabilities rise 2.6% to ₹150.95 lakh crore in Q3 FY23: Report

The Hindu  

The government's total liabilities rose to ₹150.95 lakh crore in December quarter from ₹147.19 lakh crore in the three months ended September 2022, according to the latest public debt management report. In absolute terms, the total liabilities, including liabilities under the 'Public Account' of the government, jumped to ₹1,50,95,970.8 crore at the end of December 2022. The report released by …

Budget 2023 | Govt to borrow record ₹15.4 lakh crore in FY24 to bridge revenue gap
1 year, 10 months ago

Budget 2023 | Govt to borrow record ₹15.4 lakh crore in FY24 to bridge revenue gap

The Hindu  

The government plans to borrow a record ₹15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy. Finance Minister Nirmala Sitharaman while presenting the Budget on February 1 said the net market borrowings from dated securities are estimated at ₹11.8 lakh crore to finance the fiscal deficit in 2023-24. The gross market …

Budget likely to cap fiscal deficit at 5.8% for FY24; Centre's borrowings to rise
1 year, 11 months ago

Budget likely to cap fiscal deficit at 5.8% for FY24; Centre's borrowings to rise

The Hindu  

The Centre and States are likely to budget for higher market borrowings to the tune of ₹2.3 lakh crore next fiscal even though the Union budget may peg a lower-than-expected fiscal deficit for the Centre at 5.8% of GDP, says a report. She also expects the forthcoming budget to enhance the Centre's capex to Rs 8.5-9 lakh crore and target …

Market Borrowings of Centre, States Seen At Rs 24.4 Lakh Crore In FY2024: ICRA
1 year, 11 months ago

Market Borrowings of Centre, States Seen At Rs 24.4 Lakh Crore In FY2024: ICRA

News 18  

The government will peg its fiscal deficit in the FY2024 Budget Estimates at 5.8 per cent of the GDP, a healthy moderation from the 6.4 per cent of GDP projected for FY2023, according to a report by ratings agency ICRA. Aditi Nayar, chief economist and head of ICRA, said, “With a global growth slowdown looming large, the FY2024 Union Budget …

Budget may give a big push to Railways
1 year, 11 months ago

Budget may give a big push to Railways

Live Mint  

MUMBAI : The government is likely to provide record budgetary support to strengthen the infrastructure of Indian Railways. The gross budgetary support for railways is likely to increase by 29% to ₹1.8 trillion in the year starting 1 April from ₹1.4 trillion in the current year, two people familiar with the development said. The railway ministry expects total capital expenditure …

Government aims to borrow ₹10,000 crore less in FY23 on tax mop up
2 years, 2 months ago

Government aims to borrow ₹10,000 crore less in FY23 on tax mop up

The Hindu  

The government on Thursday slashed its market borrowing target for FY23 by ₹10,000 crore, indicating buoyant tax collections which would be enough to bear ₹44,762 crore additional expense on free ration distribution. In a statement, the Finance Ministry said the government will do total borrowing of ₹5.92 lakh crore during October-March period of the current fiscal, including from issuance of …

India is on track to attract USD 100 bn FDI this fiscal: Govt
2 years, 3 months ago

India is on track to attract USD 100 bn FDI this fiscal: Govt

India TV News  

Highlights India is on track to attract USD 100 billion foreign direct investment in the current fiscal In 2021-22, the country received the "highest ever" foreign inflows of USD 83.6 billion FDI equity inflows in India dipped by 6 per cent to USD 16.6 billion during April-June period India is on track to attract USD 100 billion foreign direct investment …

FPI selloff remains slow in July with ₹7,432 cr outflow from equities
2 years, 5 months ago

FPI selloff remains slow in July with ₹7,432 cr outflow from equities

Live Mint  

Foreign portfolio investors continue to be sellers so far in July, however, the outflow of money in the equity market is at a slower pace compared to the previous month. More than two weeks have passed in the current month, and FPIs outflow has not even breached over ₹10,000 crore - which brings in the hope that finally there might …

RBI decides to give ₹30,307 cr FY22 dividend to Centre
2 years, 7 months ago

RBI decides to give ₹30,307 cr FY22 dividend to Centre

Live Mint  

The Reserve Bank of India on Friday approved a dividend payment of ₹30,307 crore to the Centre for the fiscal year ended March 2022, sharply lower than the government’s expectations. In the 2022 budget, the government had estimated that it would receive ₹73,948 crore as dividend from the RBI and state-run lenders for FY22, which would be transferred this fiscal. …

Centre's fiscal deficit at ₹5.47 lakh crore at end-October
3 years ago

Centre's fiscal deficit at ₹5.47 lakh crore at end-October

The Hindu  

The Union government's fiscal deficit works out to be ₹5.47 lakh crore or 36.3% of the budget estimates at the end of October 2021 on the back of improvement in revenue collection, according to the data released by the Controller General of Accounts on Tuesday. Commenting on the data, Aditi Nayar, Chief Economist, ICRA Limited, said despite the likely revenue …

Foreign Exchange Reserves Up $ 99.2 Bn in FY 2020-21: RBI Data
3 years, 5 months ago

Foreign Exchange Reserves Up $ 99.2 Bn in FY 2020-21: RBI Data

News 18  

The country’s foreign exchange reserves in nominal terms, including the valuation effects, increased by $ 99.2 billion during the financial year 2020-21, compared to $ 64.9 billion in the preceding year, RBI data showed. On a balance of payments basis, foreign exchange reserves increased by $ 87.3 billion during FY 2020-21, as against an increase of $ 59.5 billion during …

India Records 0.2% Current Account Deficit in December Quarter
3 years, 8 months ago

India Records 0.2% Current Account Deficit in December Quarter

News 18  

India’s current account swung to a deficit for the first time in the current fiscal, with the gap coming at USD 1.7 billion or 0.2 per cent of the GDP in the December quarter. The critical measure of a country’s external strength now stands at a surplus of 1.7 per cent of GDP for the first nine months of the …

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 …

RBI Balance Sheet Expands by 30% in 2019-20
4 years, 3 months ago

RBI Balance Sheet Expands by 30% in 2019-20

News 18  

The size of the Reserve Bank’s balance sheet, which is reflective of activities carried out by it in pursuance of currency issue function as well as monetary policy and reserve management objectives, has increased by 30.02 per cent in the year ended June 30, 2020, says its annual report. The balance sheet increased by Rs 12,318.88 billion to Rs 53,347.93 …

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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