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Govt may renew demand for Rs 131.40 bn in extra dividend from RBI: Report

RBI announced the transfer of Rs 500 billion in dividend to the federal government for this fiscal year in August

Reuters  |  New Delhi 

Government will likely renew its demand for Rs 131.40 billion ($1.9 billion) in additional dividend from the central bank helmed by newly-appointed governor Shaktikanta Das, two sources in the government told Reuters. The government believes the amount has been pending since 2016-17, when the Reserve Bank of India used an internal formula called staggered surplus dividend distribution method without consulting the government to transfer the dividend for that year, said one of the sources, who did not want to be named as they are not authorised to speak to the media. "Even ...

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First Published: Fri, December 21 2018. 15:22 IST