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July 2019
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News Headlines
Chandrayaan-2 moving in right direction: ISRO        Parliament approves Modi govt's FY20 Budget        Terrorist incident down by 70 per cent in hinterland, 86 per cent in JK        Kumaraswamy submits resignation to Karnataka Governor after failing floor test        Sindhu looks to complete unfinished business in Japan        Griezmann says heart with Barca after ugly Atletico exit        Kotak Mahindra Bank Q1 consolidated up 23 pc; standalone net jumps 33 pc to Rs 1,360 cr        Investor wealth plummets over Rs 4 lakh cr in 3 days of market fall        China says Hong Kong protests 'absolutely intolerable'        Britain's May chairs emergency session on seized tanker        SC to hear on Aug 6 plea by Ahmed Patel against Guj HC order on his election to RS        Nadda pulls up Pragya Singh Thakur for her toilet remarks        Chandrayaan-2 illustrates India's determination to scale new frontiers of science: PM        India's second moon mission launched successfully; ISRO takes control of spacecraft        Ramya Haridas to not accept Youth Congress' car gift        ICC ran out of patience with Zimbabwe cricket: Flower        Pragya's latest: Have not become MP to clean toilets        Want to be an Indian superhero in Avengers: Taapsee Pannu        Have been able to achieve balance between commercial and parallel cinema: Sonakshi        Mahershala Ali to star in Marvel's 'Blade' reboot        
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Business News
FinMin seeks transfer of Rs 27,380 cr from RBI retained towards risks, reserves
 
(New Delhi, Feb11, 2019): The finance ministry has sought from the Reserve Bank of India (RBI) Rs 27,380 crore that was withheld by the central bank towards risks and reserves in the previous years, said sources.


The RBI had retained Rs 13,190 crore towards risks and reserves during 2016-17. It increased to Rs 14,190 crore in 2017-18. Together, retained amount is Rs 27,380 crore.

The ministry has requested the RBI to provide an interim surplus for the current fiscal on the analogy of the previous financial year and transfer the amount withheld from the surplus of 2016-17 and 2017-18, sources said.

Earlier this month, Economic Affairs Secretary Subhash Chandra Garg had said the government expects Rs 28,000 crore from the RBI as interim dividend during the current fiscal.

The RBI, which follows July-June financial year, has already transferred Rs 40,000 crore in the current fiscal.

If the central board of the RBI approves transfer of Rs 28,000 crore requested by the government as interim dividend for the current fiscal, the total surplus transfer by the central bank would be Rs 68,000 crore in 2018-19.

According to sources, the government expects Rs 69,000 crore dividend in the next financial year.

The government has projected to mobilise Rs 82,911.56 crore as dividend or surplus from the RBI, nationalised banks and financial institutions during 2019-20.

After making provision for bad and doubtful debts, depreciation in assets, contribution to staff and superannuation fund and for all matters for which the provision is to be made by or under the Act or which are usually provided by bankers, the balance of the profits shall be paid to the central government, as per the RBI Act.


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KERALA NEWS
Ramya Haridas to not accept Youth Congress' car gift
 Thiruvananthapuram: Congress MP from Alathur Ramya Haridas Sunday said she will not accept the car w  
HC pulls up Kerala govt over Munnar encroachments
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INTERNATIONAL NEWS
China says Hong Kong protests 'absolutely intolerable'
 Beijing, Jul 22 (AFP) China reacted furiously on Monday to anti-government protesters vandalising th
Britain's May chairs emergency session on seized tanker
UK finance minister says will quit if Johnson becomes PM
Netanyahu to visit India on Sep 9 to meet PM Modi
NATIONAL NEWS
Chandrayaan-2 moving in right direction: ISRO
 Bengaluru, Jul 23 (PTI) A day after launching the country's second moon mission, the Indian Space Re
Parliament approves Modi govt's FY20 Budget
Terrorist incident down by 70 per cent in hinterland, 86 per cent in JK
SC to hear on Aug 6 plea by Ahmed Patel against Guj HC order on his election to RS
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