“RBI has transferred Rs 2.87 trillion surplus to the government for accounting year 2025-26, 6.7 per cent higher than FY26. Surplus transfer by RBI is 90.8 per cent of budgeted non-tax revenue under ‘dividend/surplus of Reserve Bank of India, Nationalised Banks & Financial Institutions’ head for FY27 (budget estimates). Higher transfer will reduce some pressure on fiscal deficit due to geopolitical situation,” Dr. Devendra Kumar Pant, Chief Economist, India Ratings & Research, said.
The Central Board decided to transfer Rs 1,09,379.64 crore towards the contingency risk buffer (CRB) for FY 2025-26 as against Rs 44,861.70 crore in the previous year, and maintain the CRB at 6.5 per cent of the size of the RBI balance sheet.
The transfer to Central government would have been Rs 645.18 billion higher had RBI limited contingency risk buffer (CRB) to the last year level of Rs 448.62 billion. Transferring higher amount to the CRB would help in RBI intervening in the financial market as per the evolving domestic and global macroeconomic conditions, Pant said.