RBI s high surplus transfer to buffer hit on government revenues
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Last Updated: May 21, 2021, 03:11 PM IST
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Synopsis
The RBI announced a surplus transfer of 991.22 billion rupees ($13.58 billion) for the 9-month period from July 2020 to March 2021, the central bank said in a statement. The bank will move to an April to March accounting year from 2021/22, from a July to June year.
RBI to transfer Rs 99,122 crore surplus to government
The Reserve Bank of India s board approved a significantly higher than expected surplus transfer to the government on Friday but it may not be enough to cushion the damage from a crippling second wave of the novel coronavirus.
Customs duty reliefThis refers to the news report ‘Customs duty relief for Covid tangled in red tape’ (May 20). The exemption has been given as an ad hoc exemption and not a general exemption because
RBI approves higher payout of Rs 99,122 crore to govt indiatvnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatvnews.com Daily Mail and Mail on Sunday newspapers.
RBI to transfer Rs 99,122 crore as surplus to government india.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from india.com Daily Mail and Mail on Sunday newspapers.