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RBI to pay Rs 28,000 crore as interim dividend to Modi govt
Tuesday, February 19, 2019, 7:39 AM
The RBI 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 RBI'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.
Jalan panel holds first meeting to examine reserve size of RBI; report likely in April
Tuesday, January 8, 2019, 7:37 PM
A high-level panel led by former RBI governor Bimal Jalan held its first meeting to decide on an-appropriate-size of reserves that central-bank should maintain and dividend it should give to government. The six-member panel is likely to submit its report in April, sources said. The government and RBI under previous governor Urjit Patel had been at loggerheads over the Rs.9.6LCr surplus capital with central-bank.
RBI says no to dilution of bank capital norms
Saturday, December 29, 2018, 8:08 PM
The Reserve Bank of India (RBI) on Friday opposed government calls to relax the rules for risk weights and capital requirement for Indian banks, while simultaneously announcing its intention to revise existing prudential regulations. The RBI warned that relaxing the current risk-adjusted capital norms, often termed as Basel-III-plus norms, could hit the economy at a time when defaults are high and provisions low.
