Reuters exclusively reports RBI likely to pay bumper interim dividend to help Modi government

Reuters exclusively reported that India’s central bank, having changed management last month following a clash with the government, was likely to transfer an interim dividend of 300-400 billion rupees ($4.32 billion-$5.8 billion) to the government by March. The dividend could help Prime Minister Narendra Modi’s administration bridge a widening budget deficit following a drop in tax collections and would come after the government pushed the bank for the additional funds ahead of a national election due by May.