RBI transfers surplus profits to GOI

Mumbai , Aug 9 (UNI) The Reserve bank has transferred its surplus profits amounting to Rs 45,719.60 crore for the year ended June 30 to the government of India (GOI).

In a statement issued today, RBI said Reserve bank central board, which met today, approved the transfer of surplus profit to government.

The surplus profits include Rs 34,308.60 crore on account of profit on sale of State Bank of India (SBI) shares to the Government of India, said RBI.

Excluding this amount obtained from the share transfer, the surplus profits for the year ended June 30 amount to Rs 11,411 crore as against Rs 8,404 crore in past year, said RBI.

Government had acquired RBI's entire 59.73 percent equity stake in SBI at over Rs 35, 531 crore.

UNI