The Reserve Bank of India, having changed management last month following a clash with the government, is likely to transfer an interim dividend of 300-400 billion rupees to the government by March, according to three sources with direct knowledge of the matter.
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 RBI for the additional funds ahead of a national election due by May.
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