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RBI dividend to govt halves to $4.78 billion - release

Reuters  |  MUMBAI 

(Reuters) - The Reserve of (RBI) will pay 306.59 billion rupees ($4.78 billion) as a to the for the year ended June 2017, less than half the 658.76 billion rupees it paid the previous year, it said on Thursday.

The sharp decline will likely leave the with a fairly significant hole in its annual budget.

The had expected a combined amount of 749.01 billion rupees to come in from the central and payments from state-run banks and other financial institutions. Economists had projected that about 600 billion rupees to 650 billion rupees of that would come in from the

($1 = 64 rupees)

(Reporting by bureau; Editing by Nick Macfie)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, August 10 2017. 18:52 IST