RBI vide notification no. RBI/2019-20/218 dated April 17, 2020, considering the uncertainty caused by COVID-19 which requires banks to conserve capital to retain their capacity to support the economy and absorb losses, 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.
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