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Center Seeks ₹27,380 cr from RBI
February 12, 2019
The Center has asked the Reserve Bank of India (RBI) to transfer ₹27,380 crores that it’s been withholding towards risks and reserves for many years. The central bank held ₹13,190 crores towards risks and reserves during 2016-17, and then another ₹14,190 crores during 2017-18 thereby making the total ₹27,380 crores.
The finance ministry has asked the RBI to extend an interim surplus and transfer the amount it had retained from the surplus during 2016-17 and 2017-18. The central bank has transferred ₹40,000 crores during the current financial year so far.
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