Question
The Reserve Bank of India has approved _______ of
surplus transfer to the government for 2022-23 and has maintained the contingency risk buffer 50 basis points higher at 6 percent for the year.Solution
The Reserve Bank of India has approved Rs 87,416 crore of surplus transfer to the government for 2022-23 and has maintained the contingency risk buffer 50 basis points higher at 6 per cent for the year. In AY22, the contingency buffer was kept at 5.5 per cent; provision towards the contingency fund was around Rs 1.15 trillion. The Union Budget for this year estimated the surplus from the central bank, public sector banks, and financial institutions at Rs 48,000 crore.
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