RBI Approves Highest-Ever Dividend Of Rs 2.11 Lakh Crore for Government

The Reserve Bank of India (RBI) has approved a record surplus transfer of Rs 2.11 lakh crore to the Central Government for the accounting year 2023–24, significantly exceeding budgetary and market expectations. This surplus, derived from increased income from variable repo rate (VRR) sales, higher interest rates on securities, and gains from revaluing foreign exchange funds, aims to ease fiscal pressures and reduce the fiscal deficit. The decision aligns with recommendations from the Bimal Jalan Committee and marks a substantial increase compared to previous years, supporting the government's efforts to achieve fiscal goals.