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In 2023-24, the Reserve Bank of India transferred a surplus of Rs 87,416 crore to the Centre, significantly higher than what the government had expected to receive
With the former Finance Secretary s new book kicking up a storm, Garg spoke to Moneycontrol on the battle between the government and the Reserve Bank of India over the latter’s surplus distribution policy, shedding light on a key factor that led to him being transferred from the Finance Ministry in July 2019
The Indian central bank transferred a larger-than-expected dividend of Rs 87,416 crore to the central government for 2022-23. However, data in the RBI s annual report shows it could have been even larger