Economics
India RBI Sets Aside More Money for Rainy Day, Payout Drops
- Central bank made lowest dividend payout in a decade
- Balance sheet expanded, reflecting liquidity and FX operations
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The Reserve Bank of India’s expenditure surged as it tucked away more money towards a contingency fund, it’s annual report showed, a development economists said cut the central bank’s surplus and led to the smallest dividend payout in a decade to the government.
While income rose by 20.1% in the financial year to March 2022, expenditure zoomed by more than 280%, according to the report published Friday, with provisions worth 1.15 trillion rupees ($14.8 billion) set aside and transferred to a contingency fund. That was nearly six times the amount set aside last year, the annual report showed.