RBI has declared a dividend of Rs 87,416 crore to the government, nearly triple the amount of Rs 30,307 crore paid out in the previous financial year. It is also much higher than the Rs 48,000 crore dividend from banks estimated in the budget. Economists said the surprisingly high dividend was a result of the volatility in the foreign exchange market which enabled the RBI to book huge profits through the sale of dollars.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cBFSNhV
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