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608th Meeting of Central Board of the Reserve Bank of India

Published on May 28, 2024
Current Context: The 608th meeting of the Central Board of the Reserve Bank of India (RBI) was held in Mumbai under the Chairmanship of Shri Shaktikanta Das, the Governor.
608th Meeting of Central Board of the Reserve Bank of India
  • Here are the key highlights from the meeting:
    • The Board reviewed the global and domestic economic scenario, including risks to the outlook.
    • The Board discussed the working of the Reserve Bank during the year April 2023 – March 2024 and approved the Reserve Bank’s Annual Report and Financial Statements for the year 2023-24.
    • The transferable surplus for the year (2023-24) has been arrived at on the basis of the Economic Capital Framework (ECF) adopted by the Reserve Bank on August 26, 2019.
    • The Board decided to increase the Contingent Risk Buffer (CRB) to 6.50 per cent for FY 2023-24.
    • The Board approved the transfer of ₹2,10,874 crore as surplus to the Central Government for the accounting year 2023-24.
    • This decision to pay the highest-ever dividend to the government was taken at this meeting.
    • The RBI will pay a record dividend of Rs 2.1 lakh crore to the government for the fiscal year ending March 31.
    • This payout is more than double the anticipated amount, providing a substantial boost to government revenue.
    • The previous high was Rs 1.76 lakh crore in 2018-19.

Question:

1. What percentage was the Contingent Risk Buffer (CRB) increased to for FY 2023-24?

  • A) 5.50%
  • B) 6.00%
  • C) 7.00%
  • D) 6.50%
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