RBI expected to pay government up to Rs 40,000 crore interim dividend
January 8th, 2019
The Reserve Bank of India (RBI) is likely to transfer an interim dividend of up to Rs 30,000 crore to Rs 40,000 crore ($4.32 billion-$5.8 billion) to the government by March. The funds are crucial to meet the fiscal deficit target of 3.3 percent of the GDP for the financial year ending in March, as the government’s revenue shortfall may be as high as Rs 1 lakh crore.