The Reserve Bank of India will pay Rs 2.1 lakh crore—the highest-ever surplus—as dividend to the central government for fiscal 2024, the central bank said in a press release on Wednesday.
This compares with Rs 87,420 crore transferred to the government in the financial year-ended March 2023. Economists polled by Bloomberg had pegged the surplus transfer to government at Rs 1 lakh crore for the fiscal.
A record dividend payout would help the government meet its budget deficit target of 5.1% of GDP.