The Reserve Bank of India's (RBI) unprecedented dividend payout of ₹2.87 lakh crore is set to directly support the government's balance sheet during a challenging fiscal period marked by high global energy prices and geopolitical tensions. Anindya Banerjee, Head of Commodities and Currency Research at Kotak Securities, emphasized that this substantial amount will help alleviate some of the fiscal strain caused by elevated crude oil prices and recent fuel tax reductions. He noted that while the dividend will cushion immediate financial pressures, domestic fuel prices are expected to rise gradually due to ongoing supply chain disruptions and structural challenges in the petroleum market. Banerjee also reassured that India's energy supply remains stable due to the government's proactive energy diplomacy and diversification of import sources. However, he warned that geopolitical tensions could negatively impact the rupee, potentially pushing it towards the 98-99 range against the dollar. Additionally, Banerjee highlighted the potential of Electronic Gold Receipts (EGRs) to unlock India's vast gold reserves, creating a more liquid domestic gold market.