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RBI approves transfer of Rs 99,122 crore as surplus to Centre-Business News , Happy Easterday

RBI approves switch of Rs 99,122 crore as surplus to Centre-Enterprise Information , Blissful Easterday

The RBI Board additionally reviewed the present financial state of affairs and up to date coverage measures taken to mitigate the affect of the second COVID-19 wave

Representational picture. Reuters

Mumbai: The Reserve Financial institution on Friday permitted the switch of Rs 99,122 crore as surplus to the central authorities for the accounting interval of 9 months ended 31 March.

The choice to switch the excess to the central authorities was taken on the assembly of the Central Board of Administrators of RBI. The assembly was held by means of video conferencing.

The RBI Board, based on a launch, additionally reviewed the present financial state of affairs, world and home challenges and up to date coverage measures taken by the Reserve Financial institution to mitigate the opposed affect of the second wave of COVID-19 on the financial system.

With the change within the Reserve Financial institution’s accounting 12 months to April-March (earlier July-June), the Board mentioned the working of the RBI throughout the transition interval of 9 months (July 2020-March 2021).

Through the assembly, the board, headed by Governor Shaktikanta Das, “permitted the Annual Report and accounts of the Reserve Financial institution for the transition interval.

“The Board additionally permitted the switch of Rs 99,122 crore as surplus to the central authorities for the accounting interval of 9 months ended 31 March, 2021 (July 2020-March 2021), whereas deciding to take care of the Contingency Danger Buffer at 5.50 %.”

Deputy governors Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar attended the assembly.

Different administrators of the Central Board, N Chandrasekaran, Satish Ok Marathe, S Gurumurthy, Revathy Iyer and Sachin Chaturvedi additionally attended the assembly.

Debasish Panda Secretary, Division of Monetary Providers and Ajay Seth, Secretary, Division of Financial Affairs too attended the assembly.

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Updated: May 21, 2021 — 9:42 am

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