Banking

Demonetisation Effect? RBI Halves Dividend Payout to Government to Rs 30,659 Crore

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

Reserve Bank of India. Credit: PTI

Reserve Bank of India. Credit: PTI

New Delhi: The Reserve Bank of India (RBI), today, 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.

The RBI, in 2014-15, had paid Rs 65,896 crore dividend and Rs 52,679 crore in the year prior to that.

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