The Reserve Bank of India approved an early transfer of a part of its profit to the Central government, which needs cash to fund its schemes ahead of the national elections due by May. The Reserve Bank of India's board on Monday approved Rs 28,000 crore as interim dividend, according to a statement. This is the second straight year that the RBI has announced an advance payment to Prime Minister Narendra Modi's government. The RBI board took a decision on interim dividend at its first meeting after the interim budget.
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