RBI Increases share in Contingency Fund

One Hundred Indian Rupees — Stock Photo

Greetings,

Recently Reserve Bank of India, transferred Rs. 73,615 crore in CF(contingency fund). Contingency Fund now stands at enormous Rs. 2,64,034 crore.

RBI has three risk- taking accounts to keep it, in simpler terms. IRA-FS, IRA-RS, CGRA, all three instruments combined have a total net worth of Rs. 13.88 lakh crores.

Contingency means emergency and fund is created for unforeseen circumstances.

Only last year, RBI withdrew Rs. 50,000+ crores to pay extra surplus to governments.

This year RBI could only pay, Rs. 57,128 as surplus to government. Extra surplus is transferred to the government, according to the Section 47 of the RBI.

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