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India’s RBI Approves Record $24 Billion Payout to Government

  • Transfer includes dividend and share of RBI’s surplus capital
  • Dividend approved includes 280 billion rupees interim payment
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Photographer: Brent Lewin/Bloomberg
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India’s central bank approved a record 1.76 trillion-rupee ($24.4 billion) payout to the federal government, boosting New Delhi’s coffers at a time when it is under pressure to provide a fiscal stimulus to the slowing economy.

The Reserve Bank of India’s board approved a transfer, which includes 1.23 trillion rupees as dividend and 526.4 billion rupees from its surplus capital, according to a statement. The dividend payment includes 280 billion rupees already transferred to the government in February.