RBI to pay out $7.6 billion to cash-strapped government

RBI

The Reserve Bank of India agreed to pay out 571 billion rupees ($7.6 billion) to the government this financial year, following a closely watched board meeting on August 14.

The Indian government has been seeking funding sources as it battles Covid-19, so there was additional pressure on the central bank to provide a sizeable payment. In the end, the 571 billion rupees was close to the 600 billion rupees that the government had budgeted for.

The issue of RBI dividends has been intensely

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