The cental bank had in the previous year paid Rs 65,876 crore dividend to the government.
"The Reserve Bank's Central Board, at its meeting held today, approved the transfer of surplus to the Government of India amounting to Rs 30,659 crore for the year ended June 30, 2017," RBI said in a statement.
It did not give reasons for paying less dividend.
RBI had in 2014-15 paid Rs 65,896 crore dividend and Rs 52,679 crore in the year prior to that.
The dividend payout was less than Rs 33,010 crore in 2012-13.
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