Advertisement

HindustanTimes Sun,21 Sep 2014

RBI transfers Rs. 52,679 crore profit to government

IANS  Mumbai, August 11, 2014
First Published: 08:20 IST(11/8/2014) | Last Updated: 17:26 IST(11/8/2014)

Towards aiding the government meet its fiscal deficit target, the Reserve Bank of India (RBI) on Monday transferred it a surplus profit of Rs. 52,679 crore, the central bank said.

The amount is around 60% more than the Rs. 33,010 crore given last year.

"The Central Board of Directors of the Reserve Bank of India approved the transfer of surplus amounting to Rs. 526.79 billion for the year ended June 30, 2014 to the Government of India," the RBI said in a statement in Mumbai.

The government proposes to bring down the fiscal deficit to 4.1% of GDP in this fiscal from 4.5% during 2013-14.


Advertisement
more from Business

Alibaba's big debut: Here are the 10 things you want to know

China's e-commerce giant Alibaba began trading its shares Friday on the New York Stock Exchange. Here are ten things to know about Alibaba, and why its initial public offering made history.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved