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Reserve Bank of India to Transfer surplus Funds to Central Government


MUMBAI, Aug 8: The Reserve Bank of India (RBI) on Wednesday said that it will transfer Rs 50,000 crore as surplus to the central government for the year ended June 30, 2018. The Central Bank which follows the July-June year had transferred Rs 30,659 crore to the government’s coffers for the year ended June 30, 2017. According to RBI, the decision to transfer the surplus was taken by its Central Board which met here on Wednesday. (IANS)