News > RBI sets aside more money for rainy day

RBI sets aside more money for rainy day

Deccan Herald | 27/05/2022 04:48 PM | Click to read full article

By Anup Roy The Reserve Bank of India’s expenditure surged as it tucked away more money towards a contingency fund, its annual report showed , development economists said cut the central bank’s surplus and led to the smallest dividend payout in a decade to the government.

While income rose by 20.1% in the financial year to March 2022, expenditure zoomed by more than 280%, with provisions worth 1.15 trillion rupees ($14.8 billion) set aside and transferred to the contingency fund.