RBI's Surplus Transfer
In May 2024, the Reserve Bank of India (RBI) approved its highest-ever surplus transfer of Rs. 2.11 lakh crore to the government for FY24, more than double the previous year’s Rs. 86,416 crore.
- This sharp increase is primarily due to higher income from foreign exchange holdings and other sources.
- Though the surplus is from FY 2023-24, it will reflect in the government’s FY 2024-25 accounts.
What is RBI’s Surplus?
- Surplus = Excess of RBI’s income over expenditure.
- RBI’s expenditure is only about one-seventh of its net interest income.
- Legal Framework: Under Section 47 of the RBI Act, 1934, the surplus is transferred to the ....
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