The Reserve Bank of India on Thursday said its board approved transfer of 160.1 billion rupees ($2.9 billion) dividend or surplus profit to the government for the accounting year ended June 30, lower than market estimates, further easing cash with banks. Market participants had expected a dividend payout of about 250-300 billion rupees. The RBI follows a July-to-June accounting year. In the previous year, it paid a dividend of 150.09 billion rupees........
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