What’s RBI’s Sur­plus?

The Economic Times - - Money & Banking -

The Re­serve Bank of In­dia rarely skips the con­ven­tion. But this year has been dif­fer­ent, be­cause of de­mon­eti­sa­tion, a new set up for de­ter­min­ing mone­tary pol­icy. What’s in store? Ev­ery year the sec­ond Thurs­day of Au­gust is when the cen­tral bank tells the na­tion how much it trans­ferred to the Gov­ern­ment. Will it keep the prac­tice this year? With the cal­cu­la­tions on sur­plus due to de­mon­eti­sa­tion likely gone awry, it will be all the more in­ter­est­ing to see what RBI does.

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