Government likely to renew demand for extra dividend from RBI
Updated : December 21, 2018 02:53 PM IST
The government believes the amount has been pending since 2016-17, when the used an internal formula called staggered surplus dividend distribution method without consulting the government to transfer the dividend for that year, said one of the sources, who did not want to be named as they are not authorised to speak to the media.
"Even though RBI in 2016-17 used their own formula it had still transferred 131.40 billion rupees less to the government in our view," the official said. "We have been asking that amount to be given to us," the official added.
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