RBI Approves Rs 57128 Crore As Surplus To Central Government

Central Board of the Reserve Bank of India (RBI) met on August 14, 2020 under the Chairmanship of Shaktikanta Das, Governor through video conference. This was the 584th meeting of the Central Board. The Board reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory and other measures taken by RBI to mitigate the economic impact of COVID-19 pandemic. The Board discussed the proposal of setting up an Innovation Hub. The Board discussed various areas of operations of the Bank during the last year and approved the Annual Report and accounts of the Reserve Bank for the year 2019-20. The Board also approved the transfer of Rs 57128 crore as surplus to the Central Government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5%.

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