reserve bank of india1
MUMBAI: India’s government will receive a 1.76 trillion-rupee ($24.4 billion) windfall from the central bank, which it may use to cut borrowings and recapitalize banks to help spur economic growth.
The Reserve Bank of India’s board approved the record payout on Monday, which includes a dividend of 1.23 trillion rupees and 526.4 billion rupees from its surplus capital, according to a statement. The dividend payment includes 280 billion rupees already transferred to the government in February.
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