RBI approves Rs 57\,128 crore dividend to government for FY20

MUMBAI: The Central Board of the Reserve Bank of India (RBI) on Friday approved the transfer of Rs 57,128 crore as dividend to the Central Government for the accounting year 2019-20, while deciding to maintain the contingency risk buffer at 5.5 per cent.

At the meeting, chaired by Governor Shaktikanta Das, the central board reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory and other measures taken by RBI to mitigate the economic impact of Covid-19 pandemic.

The board also discussed the proposal of setting up an Innovation Hub.

It also discussed various areas of operations of the central bank during the last year and approved the annual report and accounts for the year 2019-20.

Deputy Governors B.P. Kanungo, Mahesh Kumar Jain and Michael Debabrata Patra and other directors of the central board – N. Chandrasekaran, Ashok Gulati, Manish Sabharwal, Prasanna Kumar Mohanty, Dilip S. Shanghvi, Satish K. Marathe, S Gurumurthy, Revathy Iyer and Sachin Chaturvedi, along with Tarun Bajaj, Secretary, Department of Economic Affairs and Debasish Panda, Secretary, Department of Financial Services attended the meeting.