Payout from the central bank will help partly bridge the government's budget gap in the year ending March after it missed tax collection and asset sale targets
When asked how much interim dividend the government expects from the RBI, DEA Secy Garg said, 'Rs 28,000 crore'
The proposed 10% tax on dividends of over Rs 10 lakh per annum will be kicking in from April 1 and hence, there has been a frantic race through March to declare large interim dividends
RIL, HPCL, Biocon, Cadila Healthcare, TVS Motor, CESC, Shree Cement, Torrent Power & Marico went ex-dividend today.
Reliance Ind, Hero MotoCorp, Shree Cement and Torrent Power board will meet today to consider interim dividend on equity shares of the company for FY16