RBI boosts Modi’s coffers with early dividend
Interim payout is larger than in 2018 and comes ahead of general election
The Reserve Bank of India has continued to provide the administration of Narendra Modi with welcome news, announcing a larger interim dividend payment than it made last year.
The central bank’s board met today (February 18) and agreed to an interim dividend of 280 billion rupees ($3.9 billion) for the first half of the fiscal year, which runs from July to June. Finance minister Arun Jaitley gave a speech at the meeting.
The payout marks the second year in a row that the RBI has paid an interim
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