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RBI dividend to government halves to $4.78 billion

Reuters  |  MUMBAI 

MUMBAI (Reuters) - The Reserve Bank of India (RBI) will pay 306.59 billion rupees ($4.78 billion) as a dividend to the government for the year ended June 2017, less than half the previous year's levels as a ban on higher currency bills raised the central bank's expenses.The decline could make it harder for the government to meet its fiscal deficit target of 3.2 percent of gross domestic product for the year ending in March, although New Delhi will likely meet the shortfall by boosting revenues from other areas. The amount paid is less than half of the 658.76 billion rupees the RBI ...

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First Published: Thu, August 10 2017. 19:40 IST
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