In an environment of heightened uncertainty caused by COVID-19, it is important that banks conserve capital to retain their capacity to support the economy and absorb losses. Accordingly, it has been decided that all banks shall not make any further dividend payouts from the profits pertaining to the financial year ended March 31, 2020 until further instructions. This restriction shall be reassessed by the Reserve Bank based on the financial results of banks for the quarter ending September 30, 2020.
(Also read: FAQs on RBI allowed banks to declare moratorium on Term Loans)
(Also read: Govt will pay EPF contribution of both employer and employees)
(Also read: Verify any fact or news relating to COVID 19 on Govt website)
Disclaimer: The above post includes some content used from RBI website and executed on this website for fair use only. As this website is of educational nature, hence the content is used for education and awareness to the public.