RBI to transfer ₹ 45,719 crore surplus to govt

Mumbai: The Board of Reserve Bank on 9 August decided to transfer surplus profit of Rs45,719.60 crore to the government for the year ended June 2007.

The amount includes Rs34,308.60 crore on account of sale of shares in India’s largest lender State Bank of India to the government, RBI said in statement.

Excluding the receipt toward sale of SBI shares to the government, RBI generated a surplus of Rs11,411 crore as against Rs8,404 crore last year, it said.

The government had bought RBI’s stake in SBI in June this year to separate the central bank’s regulatory functions from ownership in commercial banks.

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