RBI to transfer Rs. 99,122 crore surplus to Central Government for FY21
- The Reserve Bank of India will transfer Rs 99,122 crore surplus to Central Government for the accounting period of nine months ended March 31, 2021 (July 2020-March 2021). The Contingency Risk Buffer will remain at 5.50%.
- This year RBI has changed its Accounting year from July-June to April-March to coincide with the accounting year of Government. As a result the accounting year 2020-21 of RBI has only 9 months.
- It must be noted that every year, RBI transfers its entire surplus which it has earned as profit to Central Government.
Points to remember:
- Surplus by RBI to CG for FY21 (2020-21)?- Rs 99122 crore
- Accounting year of RBI? – April-March
Source: RBI