The RBI board has approved a record surplus transfer of Rs 2,10,874 crore to the government for FY 2024. In the last financial year 2022-23, RBI had transferred a surplus of Rs 87,416 crore to the government. That is, it is Rs 1.23 lakh crore more than last year. This transfer of surplus is for FY24, but it will be reflected in the government accounts for FY25. The surplus was announced in the 608th meeting of the Central Board of Directors of RBI. This meeting was held on 22 May in Mumbai under the chairmanship of Governor Shaktikanta Das. The difference between income and expenditure is called surplus. The difference between income and expenditure of RBI is called surplus. RBI transfers the surplus to the government after provision for reserves and retained earnings. This transfer takes place according to Section 47 (Allocation of Surplus Profit) of the Reserve Bank of India Act, 1934. How does RBI generate surplus? RBI’s Income: RBI’s Expenditure: Highest ever surplus. This is the highest ever annual surplus transfer. According to experts, one of the reasons for the sharp increase in surplus amount is the Reserve Bank’s earnings from forex holding. Experts said the higher than expected surplus is good news for the central government as it will support the Centre’s liquidity surplus and subsequent expenditure.
