RBI pays out second-largest dividend

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Reserve Bank of India HQ

The Reserve Bank of India’s board agreed to pay out 991 billion rupees ($13.6 billion) – its second-largest dividend – to the government at its May 21 meeting.

In the financial year 2018/19, the central bank transferred 1.76 trillion rupees ($24.7 billion) to the government, including a one-off contribution of extra reserves. Its two largest transfers both took place under the government of Narendra Modi, leader of the right-wing BJP.  RBI governor Urjit Patel resigned in December 2018, with

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