The central board of Reserve Bank of India authorized switch of Rs 99,122 crore as surplus to the Central Government for the accounting interval of 9 months ended March 31, 2021. “The central board at its meeting reviewed the current economic situation, global and domestic challenges and recent policy measures taken by the Reserve Bank to mitigate the adverse impact of the second wave of COVID-19 on the economy.
With the change in the Reserve Bank’s accounting year to April-March (earlier July-June), the Board discussed the working of the Reserve Bank of India during the transition period of nine months (July 2020-March 2021),” RBI stated in a press launch.
Last yr, RBI’s board authorized the switch of Rs 57,128 crore as surplus to the central authorities for accounting yr 2019-20 (July-June)
Last week, Reserve Bank of India (RBI) stated that the largest toll of Covid-19 pandemic second wave has been by way of a requirement shock – primarily by way of mobility, discretionary spending and employment.
The central financial institution famous in its month-to-month bulletin that the resurgence of Covid-19 has dented however not debilitated financial exercise within the first half of Q1 of the present fiscal.
Although extraordinarily tentative at this stage, the central tendency of obtainable analysis is that the lack of momentum just isn’t as extreme as at the moment a yr in the past, the RBI has famous.
