The RBI Board on Friday permitted the switch of Rs 57,128 crore as surplus to the central authorities for the accounting 12 months 2019-20, the central financial institution stated in an announcement.
The choice was taken on the 584th assembly of the Central Board of the Reserve Financial institution of India chaired by Governor Shaktikanta Das.
The Board reviewed the present financial state of affairs, continued world in addition to home challenges, and financial, regulatory and different measures taken by the RBI to mitigate the financial influence of Covid-19 pandemic.
“The Board additionally permitted the switch of Rs 57,128 crore as surplus to the Central Authorities for the accounting 12 months 2019-20, whereas deciding to keep up the Contingency Danger Buffer at 5.5 per cent,” the RBI stated in an announcement.
Additional, the Central Board mentioned the proposal of establishing an Innovation Hub.
It additionally mentioned varied areas of operations of the financial institution over the last 12 months, and permitted the annual report and accounts of the of the Reserve Financial institution for 2019-20.