Bank transfers.

"India added nearly 4.7 crore (47 million) jobs in the 2023-24 fiscal year, a Reserve Bank of India (RBI) report showed,..higher than several other estimates." TOI. This was in response to "India will struggle to create enough jobs for its growing workforce over the next decade even if the economy grows at a rapid pace of 7%, Citigroup Inc. said," as "India will need to create about 12 million jobs a year over the next  decade to absorb the number of new entrants to the labor market." BS. Much, much better, "India has created more than 80 million employment opportunities in the five-year period from 2017-18 to 2021-22, translating to an average of over 20 million jobs or employment per year, the Ministry of Labour and Employment said." ET. Careful, we may run out of people and have to import workers from the US and Europe. On cue, "The recent KLEMS [capital (K), labor (L), energy (E), material (M) and services (S)] data by the RBI and the ASUSE (Annual Survey of Unincorporated Enterprises) employment numbers of the government broadly match, SBI Research said." ET. That is hilarious. The State Bank of India (SBI) is a public sector bank meaning it is owned by the government. wikipedia. "Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the government of India." RBI. The present Governor of the RBI Shaktikanta Das used to be a Secretary in the Ministry of Finance before he retired. wikipedia. Every year the RBI transfers profits earned from seigniorage, which is the difference between the face value of currency notes and the cost of printing it (Investopedia), from interest on money it lends to banks and from notional gains on buying and selling foreign exchange (ICICI). Since 2014-15 the RBI has been transferring increasing sums of money to the government, except in 2016-17 because of the ill-conceived demonetisation (wikipedia) and in 2021-22, when at least 4.7 million died of Covid-19 in India, according to the WHO (BBC). In 2017-18, the RBI paid over Rs 1.76 trillion, in 2020-21 it paid over Rs 991 billion and in 2022-23, just after Covid, it paid over Rs 874 billion. IIFL Securities. In 2020-21 the RBI changed its accounting year from July-June to April-March to align it with India's fiscal year. So the RBI paid out Rs 991 billion in just 9 months from July 2020 to 31 March 2021. This year the RBI went ballistic and paid out a humongous Rs 2.11 trillion to the government. News18. In 2018, then Deputy Governor of the RBI Viral Acharya said in his resignation speech that the RBI could face the same consequences as Argentina's central bank when then President Cristina Fernandez forced a transfer of $6 billion from its reserves. BT. Argentina has foreign debts of $400 billion and its central bank's reserves are in the red by $10 billion. Reuters. Meanwhile, desperate young men from India are dying in Ukraine while fighting for the Russian army. The Wire. We can only hope the RBI does not break the bank (dictionary). Literally.