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RBI to transfer Rs Rs 1.76L cr to govt
Economy

RBI to transfer Rs Rs 1.76L cr to govt

Pennews

Reserve Bank of India has decided to transfer Rs 1,76,051 crore to the Union Government under the revised Economic Capital Framework (ECF) adopted at the meeting of the bank board on Monday.

This would include Rs 1,23,414 crore of surplus for  2018-19 and Rs 52,637 crore of excess provisions.

The committee submitted its report to the RBI Governor and its recommendations looked at the consideration of the role of central banks' financial resilience, cross-country practices, statutory provisions and the risks.

The apex bank had RBI constituted an expert committee to review its capital framework after consultations with the Government.