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This is just ridiculous. RBI has 15 lakh crore extra money, and it chooses to give just R.s 57,000 cr. as dividend to the government - in a Covid kind of crisis. Why the RBI is allowed to hoard this kind of money I have no idea. But they need to have given a lot lot more.
RBI's buffers have gone up by over 400,000 cr. in the last few months. Remember this: The RBI balance sheet does not play a role in an economic rescue - only the government does. The RBI can expand balance sheet at will for any liquidity buffers - the government needs the money.
In general, India needs to have a strict rule that RBI cannot have more than a 15% or 20% buffers, period. Current balance sheet size is 47 lakh crores. Current buffers are 15 lakh crores = which is over 30%!

Terribly unnecessary especially at this time.
If you'd like to read about how the balance sheet works and why this won't result in selling our precious forex or gold, read our (long back) post: capitalmind.in/2020/04/how-th…
Meanwhile: The 10 year bond auction devolves today - RBI only accepts bids till 5.96% and 4,600 cr. hits the primary dealers.
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