RBI to transfer record surplus Rs 1.76 lakh crore to government

The RBI board, headed by governor Shaktikanta Das, approved a transfer of Rs 1,76,051 crore to the government on Monday. This includes Rs 1,23,414 crore of surplus or dividend for the year 2018-19 and Rs 52,637 crore of excess provisions — a one-time transfer which is a first for RBI. The move is expected to stimulate the economy without widening fiscal deficit.

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