Reserve Bank of India will transfer a Rs. 50,000 crore profit as a dividend to Government of India for financial year ending March 2018. Not just the profit, RBI does not need these funds as it is one of the top most capitalised banks in the world – what a thought!
This profit would be one of the highest ever profits given to the government – the financial community was expecting much less than this. So this is wonderful news for the government which would use these funds to further help public sector banks reduce their losses and help fund more infrastructure investments…
- 10 Aug 2018