The Central Board of Directors of the Reserve Bank of India (RBI) has approved the transfer of Rs 2.11 lakh crore as a dividend to the government of India for the financial year 2023-24. This was announced by the RBI after the meeting of its Central Board of Directors on 22 May 2024 in Mumbai. The government of India is the 100 per cent owner of the RBI.
This is perhaps the highest-ever dividend announced by RBI despite the Contingent Buffer Risk being increased to 6.5% for 2023-24.
A dividend is the part of the profit distributed by a company to its shareholders.
