India's central banking institution has reportedly declined government's demand for additional dividend. The government had asked the RBI to pay an additional dividend of Rs 13,000 crore. The central bank transferred dividend to the tune of Rs 30,659 crore to the government for FY2016-17, which is half of what it paid to the government in the previous fiscal.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service