RBI Gives Rs. 28,000 Crore Interim Dividend To Government Before Elections | Read
PUBLISHED ON: February 19, 2019 | Duration: 0 min, 27 sec
The Reserved Bank of India approved an early transfer of a part of its profit to the government, which needs cash to fund its schemes ahead of the national elections due by May. The Reserve Bank of India's board approved Rs. 28,000 crore as interim dividend, according to a statement. This is the second straight year that the RBI has announced an advance payment to Prime Minister Narendra Modi's government.