RBI to transfer surplus profit of $8.62 billion to govt

MUMBAI (Reuters) - The Reserve Bank of India said on Sunday its board has approved the transfer of a surplus profit of 526.79 billion rupees ($8.62 billion) to the government for the year ended June 2014.

This compares with a surplus transfer of 330.10 billion rupees last year. The central bank said the transfer will take effect on Monday. 

(1 US dollar = 61.1400 Indian rupee)

(Reporting by Zeba Siddiqui in Mumbai; Editing by Larry King)