RBI Bank Board Agreed to the Payment of 30,307 cr to the Government

Current Context: Recently RBI bank board approved the transfer of a 30,307cr surplus to the government.

• This is considered to be a big relief to the government as the dividend payment comes after the economy comes under stress from the war in Ukraine and fears for the world economy.
• RBI has decided to maintain the contingency risk buffer at 5.50%
• Last year in May 2021 RBI transferred a 99,122 cr surplus to the government for the total period of nine months starting from July 2020 to March 2021.
• Apart from that RBI’s Monetary Policy Committee (MPC), estimated that the GDP growth rate for Financial Year 2022-23 would be 7.2%.
• In addition to that, the growth forecast for FY23 has lowered to 7.2% from 7.8%.
• Apart from that, the bank board also reviewed the current economic situation, and global and domestic challenges planning to come up with better policy rates.

Question:

Ques: 1. How much amount of surplus has been agreed by RBI to Transfer to the government for FY22?
A. 99,122Cr
B. 30,307Cr
C. 22,143Cr
D. 10,125Cr