February 5, 2019 / 10:54 AM / 17 days ago

Indian government expects $9.63 billion in dividend from RBI in 2019/20: source

FILE PHOTO: A security guard stands next to the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai, India, December 5, 2018. REUTERS/Francis Mascarenhas/File Photo

NEW DELHI (Reuters) - The Indian government expects the central bank to pay a dividend of 690 billion rupees ($9.63 billion) in the next financial year beginning April 2019, a senior finance ministry source, who requested anonymity, told reporters on Tuesday.

Piyush Goyal, India’s interim finance minister, in his annual budget for 2019/20 tabled in parliament last week, estimated to get 829.11 billion rupees through dividend from banks, financial institutions and the Reserve Bank of India next financial year.

($1 = 71.6630 rupees)

Reporting by Aftab Ahmed, Writing by Manoj Kumar; Editing by Sherry Jacob-Phillips

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