LIVE MARKET TRACKER :   BSE SENSEX   32584.35      |    NSE NIFTY 10210.85    
GLOBAL MARKETS :  NASDAQ 6632.0776   +0.1271%    |    FSI London 7542.87   +0.36%    |    NIKKEI Japan 21363.05   +0.13%
  USD GBP EUR CAD AUD INR
USD - 0.7578 0.8482 1.2475 1.2746 65.1090
GBP 1.3199 - 1.1194 1.6464 1.6820 85.7660
EUR 1.1792 0.8935 - 1.4710 1.5028 76.5908
CAD 0.8022 0.6078 0.6800 - 1.0221 52.0670
AUD 0.7847 0.5947 0.6656 0.9789 - 50.9800
INR 0.0154 0.0117 0.0131 0.0193 0.0197 -
Indian-Commodity  :  Economy  :  RBI halves dividend paid to govt to Rs 30,659 crore in FY17

RBI halves dividend paid to govt to Rs 30,659 crore in FY17 (11-Aug-2017)

The Reserve Bank of India (RBI) has made a surprise move by halving its dividend payout to the government to only Rs 30,659 crore for the fiscal ended June 30, 2017, less than half of the Rs 65,876 crore it paid the previous year. For the year 2014-15, the RBI had paid Rs 65,896 crore dividend and Rs 52,679 crore in the year prior to that. However, the central bank hasn't given any specific reasons for the sharp fall in the surplus income for the year ended June 2017.

The government had expected Rs 58,000 crore in dividend from the RBI in 2017-18. In the Union Budget for 2017-18, the government had accounted for a dividend of Rs 74,901 crore from the RBI, nationalised banks and financial institutions for this fiscal. The dividend reduction by the RBI may put pressure on fiscal maths and the government has to find resources to meet its fiscal deficit target of 3.2 per cent for 2017-18.

Explaining the rationale, former RBI Deputy Governor R Gandhi has pointed out that for the past few years, returns have been coming down on the back of negative interest rates in the developed countries. He also explained that due to increased liquidity in the system, the RBI has been borrowing money under reverse repo and paying interest which has implications on the revenue.



Top News Today
Suven Life Sciences secures product patent in Singapore
(18-Oct-2017)

Suven Life Sciences secures product patent in SingaporeSuven Life Sciences has secured one product patent from Singapore corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents......click on news to read complete article.

Jubilant Life Sciences issues commercial papers worth Rs 50 crore
(18-Oct-2017)

Jubilant Life Sciences issues commercial papers worth Rs 50 croreJubilant Life Sciences has issued Commercial Papers (CPs) aggregating to Rs 50 crore on October 17, 2017. The company has issued two commercial papers of Rs 25 crore each providing an interest rate of......click on news to read complete article.

Peninsula Land receives Rs 200 crore from Godrej Skyline for Pune land
(18-Oct-2017)

Peninsula Land receives Rs 200 crore from Godrej Skyline for Pune landPeninsula Land has received Rs 200 crore out of the total consideration of Rs 226 crore from Godrej Skyline Developers for sale of property situated at Village Mamurdi, Taluka Haveli, District - Pune,......click on news to read complete article.

International Stock News
Asian markets trade mostly lower in early deals on Wednesday
(18-Oct-2017)

Asian markets trade mostly lower in early deals on WednesdayMost of the Asian equity benchmarks are trading lower in the early deals on Wednesday with investors trading cautiously as China's President Xi Jinping spoke at the beginning of the Communist Party's 19th......click on news to read complete article.

US markets closed mostly higher on round of positive earnings report
(18-Oct-2017)

US markets closed mostly higher on round of positive earnings reportThe US markets closed mostly higher on Tuesday, with both the Dow and the S&P 500 finishing at records as a round of positive earnings report from major companies boosted positive sentiment and......click on news to read complete article.

Asian markets trade mostly higher in early deals on Tuesday
(17-Oct-2017)

Asian markets trade mostly higher in early deals on TuesdayMost of the Asian equity benchmarks are trading in green in the early deals on Tuesday, with the fresh record highs on Wall Street and firm commodity prices boosting investors' sentiments. Comments by......click on news to read complete article.

 

     
  
Recent Economy News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.