Suspense Crime Sach Ka Dam
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Mumbai: The board of the Reserve Bank of India (RBI) is likely to meet on Friday and it is expected that a decision will be taken regarding the payment of dividend to the government.
The meeting will discuss the financial condition of the Reserve Bank and how much money can be provided to the government. The Reserve Bank transferred an additional amount of Rs 30,307 crore to the Center out of the amount that was with the government in the financial year 2022. The amount is expected to be in the range of Rs 7,200 crore to Rs 75,000 crore in the current financial year.
The government is expecting huge profit in the form of annual dividend from the Reserve Bank in the current financial year.
It is believed that the Reserve Bank has earned a lot of profit in the financial year 2023 by giving loans to forex trading and banks.
Due to lack of liquidity, banks were forced to borrow heavily from the Reserve Bank. Loans and advances to banks stood at Rs 1.65 lakh crore. It is estimated that in the year 2024, Rs 48,000 crore will be received as dividend from public sector banks and the Reserve Bank.
The Center is expecting a higher dividend from the Reserve Bank, given the large volume of dollar sales.
