RBI to transfer Rs 87,416 cr surplus to govt for FY23, up from ₹30,307 cr a year earlier

The Reserve Bank of India will transfer a surplus of ₹87,416 crore to the government for the 2022-23 accounting year, up from ₹30,307 crore in 2021-2022. The higher payout was driven by increased earnings on forex sales throughout the year, higher interest income due to lending through various windows as the benchmark repo rate climbed, and recommendations from the Bimal Jalan committee.