RBI boosts Modi’s coffers with early dividend

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The Reserve Bank of India has continued to provide the administration of Narendra Modi with welcome news, announcing a larger interim dividend payment than it made last year.

The central bank’s board met today (February 18) and agreed to an interim dividend of 280 billion rupees ($3.9 billion) for the first half of the fiscal year, which runs from July to June. Finance minister Arun Jaitley gave a speech at the meeting.

The payout marks the second year in a row that the RBI has paid an interim

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