To bridge fiscal deficit, RBI likely to pay govt $5.8 bn interim dividend


The Reserve Bank of India (RBI), having changed management last month following a clash with the government, is likely to transfer an interim dividend of Rs 300-400 billion ($4.32 billion-$5.8 billion) to the government by March, according to three sources with direct knowledge of the matter.

The dividend could help Prime Minister Narendra Modi's administration bridge a widening budget deficit following a drop in tax collections, and would come after the government pushed the RBI for the additional funds ahead of a national election due by May.

Former finance ministry official Shaktikanta Das was appointed as the new governor of the Reserve Bank of India (RBI), following resignation of Urjit Patel last month amid tensions over the dividend payout and other issues.

The government and RBI have now appointed a panel to look into the issue around the sharing of the RBI's reserves.

Read More


Business Standard

Comments

Post a Comment

Popular posts from this blog

Invest in smallcase with sebi registered professionals

Image
  What Is Smallcase and How Does It Work? India’s investment landscape has changed dramatically in recent years, with the introduction of digital platforms and the rise of mutual funds as popular investment vehicles. Smallcase is a new investment platform in India that offers a unique way of investing in the stock market through theme-based portfolios. A Smallcase is a basket of stocks designed around a particular theme or sector managed by SEBI-approved fund managers. This innovative investment approach brings an element of diversification to investing in the stock market. With low minimum investment amounts and well-rounded theme-based asset classes, Smallcases are an affordable investment option that won’t break the bank account. Smallcases provide the services of a qualified RIA for the price of a mutual fund investment and offer the easy purchase of thematic investments. Instead of buying each company’s share one piece at a time, you can buy a theme or idea as a bundle, li
Read more

Teji Mandi Your Ultimate Share Market App for Informed Investing

In the world of finance, staying informed is the key to successful investing. Whether you're a seasoned trader or a novice in the share market, having the right tools at your disposal is essential. The Teji Mandi share market app emerges as a comprehensive solution to your share market needs. In this article, we will delve into how the Teji Mandi share market app empowers investors with the information, insights, and tools necessary for making informed investment decisions. Expert Stock Recommendations: For those who seek professional guidance, the Teji Mandi share market app provides expert stock recommendations. Seasoned analysts offer insights and recommendations, aiding you in making prudent investment decisions. This feature is valuable for investors who appreciate expert advice. User-Friendly Interface: The Teji Mandi share market app's user-friendly interface caters to investors of all levels of expertise. Navigating through the app, accessing your portfolio, and
Read more

Unleashing the Potential of Stocks: Crafting a Successful Stock Portfolio

Image
  Stocks have a reputation for being the ‘rockstars’ of the investment world. Many people have made fortunes from investing in the stock market, and it's no secret why. Historically, stocks have provided higher returns than other asset classes in the long term. However, with the potential for high returns comes higher risk. But, despite the risks, a well-managed stock portfolio can be a powerful tool for generating income and building long-term wealth. So, are you looking to build a stock portfolio? If yes, read this blog to understand all nuances of a portfolio and how you can build best stock portfolio for long term in India. What is a portfolio in the stock market? A stock portfolio is a collection of stocks or equities that represent ownership in a company and are traded on stock exchanges. Building a stock portfolio is a popular investment strategy, as stocks have a historical track record of providing higher returns than other asset classes over the long term. When c
Read more