Cash bailout: RBI to transfer Rs 1.76 lakh crore to Modi govt - NDTv
Tue, Aug 27, 2019, 09:21 AM
The Reserve Bank of India (RBI) on Monday decided to transfer Rs 1.76 lakh crore in dividend and surplus reserve to the Modi government. It is a yearly phenomenon of RBI giving cash to the Centre. In 2015-16, RBI gave Rs 65,896 crore and Rs 50,000 crore in 2017-18. However, the RBI has tripled the amount for 2018-19. The RBI's Central Board taken decision to give surplus reserve to the BJP-led NDA government based on the recommendations of Bimal Jalan Committee.