The Reserve Bank of India (RBI) has approved the transfer of Rs 57,128 crore surplus reserves to the government accounting for the year 2019-20, according to reports. The RBI board has decided to maintain the Contingency Risk Buffer at 5.5%.
The central bank's board met on Friday to review RBI's balance sheet, the surplus transfer is part of that review process. The central bank is expected to officially declare the much-anticipated transfer amount in an hour or two.
(to be updated)