Brokerages say RBI windfall could boost some sectors, ease liquidity concerns
Some brokerages believe the fund transfer will mostly be used to offset weak tax collections.
By ET Bureau | Updated:
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The RBI fund transfer comprises Rs 1.23 lakh crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions.
Brokerages believe the transfer of Rs 1.76 lakh crore by the Reserve Bank of India to the government will help meet the fiscal deficit target and also alleviate liquidity concerns in the economy. Some brokerages believe the fund transfer will mostly be used to offset weak tax collections. The Indian central bank on Monday accepted the Bimal Jalan Committee recommendations and approved surplus transfer to the government. The RBI fund transfer comprises Rs 1.23 lakh crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions. Here’s what brokerages are saying on the fund transfer bonanza to the Union government.
