Mumbai: On Friday, the Reserve Bank of India approved a dividend distribution to the central government in the amount of Rs 87,416 crore, roughly quadruple the amount paid out in 2022-23.
Central banks and state-owned financial institutions have paid out dividends that far exceed the amount predicted in the Union Budget 2023-24.
In this fiscal year, the government hoped to receive Rs 48,000 crore from the RBI, public sector banks, and other financial institutions.—Inputs from Agencies