Thursday, December 20, 2018

Govt to seek interim dividend from RBI, says Economic Affairs Secretary

New Delhi, Dec 19: The government will seek an interim dividend from the Reserve Bank of India (RBI), Economic Affairs Secretary Subhash Chandra Garg said on Wednesday.
Last fiscal, the RBI had paid an interim dividend of Rs.10,000 crore to the Centre. Asked if the government will seek interim dividend from RBI this year, he said, “Yes.”
Mr. Garg also said the committee, which would examine the economic capital framework of the RBI, had almost been finalised.
“Panel on economic capital framework has virtually been agreed. Hopefully, soon it will be announced,” he said on the sidelines of an event organised by the PHD Chamber here.
On November 19, the central board of the RBI had decided to constitute an external committee to examine its economic capital framework. The composition and terms of reference of the committee were to be decided jointly by the government and the RBI.

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