This is how BofAML believes the government will utilise the RBI surplus
Updated : August 27, 2019 11:49 AM IST
The Reserve Bank of India (RBI) on Monday approved a transfer of Rs 1.76 lakh crores surplus to the government as dividend, the highest ever dividend doled out by the central bank in its history.
According to BofAML, the RBI surplus will most likely be used to fund the Rs 70,000 crore recapitalization of PSU banks.
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