Reserve Bank of India Rs. 87,416 crore as dividend will be paid

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Mumbai: The Central Board of the Reserve Bank today decided to pay a dividend of Rs 87416 crore to the Central Government for the ended financial year 2022-23. Huge dividend from RBI will be a relief for central government. Compared to the dividend of Rs 30,307 crore paid in the financial year 2021-22, the dividend for the financial year 2022-23 has increased by 188 percent.

The board monitored global and domestic economic conditions, said the list issued by the Reserve Bank.

The dividend for 2021-22 was at a ten-year low. Amid the prevailing uncertainty over disinvestment of public sector undertakings in the current financial year, the huge amount of revenue in the form of dividend to the government coffers will support the government in maintaining its fiscal position, a banker said.

While presenting the budget of the current financial year, the Finance Minister had made an assumption that a total dividend of Rs 48,000 crore would be received from the Reserve Bank and the banks. But such a huge amount has been received only from the Reserve Bank.

The Reserve Bank has been able to pay high dividends due to high income from forex sales, good returns on investments etc. With public sector banks posting good results last financial year and their balance sheets also getting stronger, the finance ministry is expecting higher dividends from these banks as well. Another analyst said the government will have to reduce borrowings from the market due to higher income through dividends.

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