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       Note ban effect: RBI halves dividend payment to govt
 
         Posted on :16:57:22 Aug 11, 2017
   
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       Last edited on:23:06:27 Aug 11, 2017
         Tags: Note ban effect: RBI halves dividend payment
 

NEW DELHI: The Reserve Bank of India (RBI) on Thursday said it will pay Rs. 30,659 crore dividend to the government for the year ended June 30, less than half of what it paid in the previous year.

The central bank had in the previous year paid Rs. 65,876 crore dividend to the government.

"The Reserve Bank's Central Board, at its meeting held today, approved the transfer of surplus to the Government of India amounting to Rs. 30,659 crore for the year ended June 30, 2017," RBI said in a statement.

It did not give reasons for paying less dividend. RBI had in 2014-15 paid Rs. 65,896 crore dividend and Rs. 52,679 crore in the year prior to that.

The dividend pay-out was less than Rs. 33,010 crore in 2012-13.

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