RBI approves record ₹2.1 lakh crore surplus transfer to government
The Central Board of Directors of the Reserve Bank of India has approved a bumper transfer of ₹2,10,874 crore as surplus to the Central Government for the accounting year 2023-24.
This is the highest surplus the RBI has transferred to the government so far. This could substantially reduce the government’s borrowing requirement in FY25 via government securities and have a salubrious impact on G-Sec yields.
The transfer bonanza was decided at the today’s 608th meeting of the Central Board of Directors of the Reserve Bank of India in Mumbai.