A transfer of Rs 99,122 crore as surplus has been approved by the Reserve bank of India (RBI) to the Centre for the accounting period of nine months ended March 31.

The Apex bank also decided to maintain the Contingency Risk Buffer at 5.50 per cent.

The decision was taken at the 589th meeting of the Central Board under the chairmanship of RBI Governor Shaktikanta Das, through video conference.

According to the RBI, the Board in its meeting reviewed the current economic situation, global and domestic challenges and recent policy measures taken by the Reserve Bank to mitigate the adverse impact of the second wave of Covid-19 on the economy.

Deputy governors Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao and T Rabi Sankar attended the meeting.

Other directors of the Central Board, N Chandrasekaran, Satish K Marathe, S Gurumurthy, Revathy Iyer and Sachin Chaturvedi also attended the meeting.