RBI to transfer 25% more to Govt

RBI to transfer 25% more to Govt

The Reserve Bank of Indiawill transfer 25 per cent more by way of surplus funds to the government for the year ended June 30, 2015. The central bank, in a statement, said its Central Board of Directors, at its meeting held on Thursday, approved the transfer of surplus funds amounting to Rs.65,896 crore to the Government of India. The surplus amounts were Rs.52,679 crore and Rs.33,010 crore for the years ended June 30, 2014 and June 30, 2013, respectively.