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Why RBI cannot pay Rs 3.6 trillion to govt

Neither the foreign exchange, nor the gold, and certainly not the revaluation reserve should be available for spending by anyone

Topics
Rbi  |  Reserve Bank Of India  |  Foreign Exchange Reserve

Rashmin C Sanghvi 



Rashmin C Sanghvi

Media claims that the (RBI) has a reserve of Rs 9.6 trillion. The government wants a portion of this money to be transferred to it for its expenses. Let us examine the accounting and economic details. As per the balance sheet of the RBI, the total share capital and reserves are Rs 67.26 billion. There is no other reserve on the balance sheet. All the amounts actually represent liabilities payable, or provisions made by the .

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First Published: Wed, December 26 2018. 21:16 IST

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