RBI Eases India Government Finances With $14 Billion Payout

India’s central bank approved paying a higher-than-expected nearly $14 billion as dividend to the government, providing relief to Finance Minister Nirmala Sitharaman at a time when the pandemic has strained public finances.
The central board of the Reserve Bank of India approved transferring 991.2 billion rupees ($13.6 billion) to the government on Friday, according to a statement from the Reserve Bank of India. The RBI pays dividends to the government every year from surplus it generates from market operations, investments and printing of currency.