diff --git a/cmd/admin-handlers.go b/cmd/admin-handlers.go
index e929e3aec..3ab0b6cd6 100644
--- a/cmd/admin-handlers.go
+++ b/cmd/admin-handlers.go
@@ -41,13 +41,10 @@ import (
 	"github.com/minio/minio/cmd/logger"
 	"github.com/minio/minio/cmd/logger/message/log"
 	"github.com/minio/minio/pkg/auth"
-	bandwidth "github.com/minio/minio/pkg/bandwidth"
-	bucketBandwidth "github.com/minio/minio/pkg/bucket/bandwidth"
 	"github.com/minio/minio/pkg/handlers"
 	iampolicy "github.com/minio/minio/pkg/iam/policy"
 	"github.com/minio/minio/pkg/madmin"
 	xnet "github.com/minio/minio/pkg/net"
-	"github.com/minio/minio/pkg/sync/errgroup"
 	trace "github.com/minio/minio/pkg/trace"
 )
 
@@ -1441,44 +1438,9 @@ func (a adminAPIHandlers) BandwidthMonitorHandler(w http.ResponseWriter, r *http
 	}
 
 	setEventStreamHeaders(w)
-	peers := newPeerRestClients(globalEndpoints)
 	bucketsRequestedString := r.URL.Query().Get("buckets")
-	var bucketsRequested []string
-	reports := make([]*bandwidth.Report, len(peers))
-	selectBuckets := bucketBandwidth.SelectAllBuckets()
-	if bucketsRequestedString != "" {
-		bucketsRequested = strings.Split(bucketsRequestedString, ",")
-		selectBuckets = bucketBandwidth.SelectBuckets(bucketsRequested...)
-	}
-	reports = append(reports, globalBucketMonitor.GetReport(selectBuckets))
-	g := errgroup.WithNErrs(len(peers))
-	for index, peer := range peers {
-		if peer == nil {
-			continue
-		}
-		index := index
-		g.Go(func() error {
-			var err error
-			reports[index], err = peer.MonitorBandwidth(ctx, bucketsRequested)
-			return err
-		}, index)
-	}
-	consolidatedReport := bandwidth.Report{
-		BucketStats: make(map[string]bandwidth.Details),
-	}
-
-	for _, report := range reports {
-		for bucket := range report.BucketStats {
-			d, ok := consolidatedReport.BucketStats[bucket]
-			if !ok {
-				consolidatedReport.BucketStats[bucket] = bandwidth.Details{}
-				d = consolidatedReport.BucketStats[bucket]
-				d.LimitInBytesPerSecond = report.BucketStats[bucket].LimitInBytesPerSecond
-			}
-			d.CurrentBandwidthInBytesPerSecond += report.BucketStats[bucket].CurrentBandwidthInBytesPerSecond
-			consolidatedReport.BucketStats[bucket] = d
-		}
-	}
+	bucketsRequested := strings.Split(bucketsRequestedString, ",")
+	consolidatedReport := globalNotificationSys.GetBandwidthReports(ctx, bucketsRequested...)
 	enc := json.NewEncoder(w)
 	err := enc.Encode(consolidatedReport)
 	if err != nil {
diff --git a/cmd/bucket-replication.go b/cmd/bucket-replication.go
index 0d0c7d981..f53bfa252 100644
--- a/cmd/bucket-replication.go
+++ b/cmd/bucket-replication.go
@@ -235,8 +235,8 @@ func replicateObject(ctx context.Context, objInfo ObjectInfo, objectAPI ObjectLa
 	replicationStatus := replication.Complete
 
 	// Setup bandwidth throttling
-	peerCount := len(globalEndpoints)
-	b := target.BandwidthLimit / int64(peerCount)
+	totalNodesCount := len(GetRemotePeers(globalEndpoints)) + 1
+	b := target.BandwidthLimit / int64(totalNodesCount)
 	var headerSize int
 	for k, v := range putOpts.Header() {
 		headerSize += len(k) + len(v)
diff --git a/cmd/notification.go b/cmd/notification.go
index f5cfe44d9..caf7c2d00 100644
--- a/cmd/notification.go
+++ b/cmd/notification.go
@@ -33,6 +33,8 @@ import (
 	"github.com/minio/minio-go/v7/pkg/set"
 	"github.com/minio/minio/cmd/crypto"
 	"github.com/minio/minio/cmd/logger"
+	bandwidth "github.com/minio/minio/pkg/bandwidth"
+	bucketBandwidth "github.com/minio/minio/pkg/bucket/bandwidth"
 	"github.com/minio/minio/pkg/bucket/policy"
 	"github.com/minio/minio/pkg/event"
 	"github.com/minio/minio/pkg/madmin"
@@ -1283,3 +1285,47 @@ func sendEvent(args eventArgs) {
 
 	globalNotificationSys.Send(args)
 }
+
+// GetBandwidthReports - gets the bandwidth report from all nodes including self.
+func (sys *NotificationSys) GetBandwidthReports(ctx context.Context, buckets ...string) bandwidth.Report {
+	reports := make([]*bandwidth.Report, len(sys.peerClients))
+	g := errgroup.WithNErrs(len(sys.peerClients))
+	for index, peer := range sys.peerClients {
+		if peer == nil {
+			continue
+		}
+		index := index
+		g.Go(func() error {
+			var err error
+			reports[index], err = peer.MonitorBandwidth(ctx, buckets)
+			return err
+		}, index)
+	}
+
+	for index, err := range g.Wait() {
+		reqInfo := (&logger.ReqInfo{}).AppendTags("peerAddress",
+			sys.peerClients[index].host.String())
+		ctx := logger.SetReqInfo(ctx, reqInfo)
+		logger.LogOnceIf(ctx, err, sys.peerClients[index].host.String())
+	}
+	reports = append(reports, globalBucketMonitor.GetReport(bucketBandwidth.SelectBuckets(buckets...)))
+	consolidatedReport := bandwidth.Report{
+		BucketStats: make(map[string]bandwidth.Details),
+	}
+	for _, report := range reports {
+		if report == nil || report.BucketStats == nil {
+			continue
+		}
+		for bucket := range report.BucketStats {
+			d, ok := consolidatedReport.BucketStats[bucket]
+			if !ok {
+				consolidatedReport.BucketStats[bucket] = bandwidth.Details{}
+				d = consolidatedReport.BucketStats[bucket]
+				d.LimitInBytesPerSecond = report.BucketStats[bucket].LimitInBytesPerSecond
+			}
+			d.CurrentBandwidthInBytesPerSecond += report.BucketStats[bucket].CurrentBandwidthInBytesPerSecond
+			consolidatedReport.BucketStats[bucket] = d
+		}
+	}
+	return consolidatedReport
+}
diff --git a/cmd/peer-rest-client.go b/cmd/peer-rest-client.go
index 4d8e73499..2056eda47 100644
--- a/cmd/peer-rest-client.go
+++ b/cmd/peer-rest-client.go
@@ -891,7 +891,6 @@ func newPeerRESTClient(peer *xnet.Host) *peerRESTClient {
 func (client *peerRESTClient) MonitorBandwidth(ctx context.Context, buckets []string) (*bandwidth.Report, error) {
 	values := make(url.Values)
 	values.Set(peerRESTBuckets, strings.Join(buckets, ","))
-
 	respBody, err := client.callWithContext(ctx, peerRESTMethodGetBandwidth, values, nil, -1)
 	if err != nil {
 		return nil, err
diff --git a/cmd/peer-rest-server.go b/cmd/peer-rest-server.go
index 6fe971395..96bb11698 100644
--- a/cmd/peer-rest-server.go
+++ b/cmd/peer-rest-server.go
@@ -30,7 +30,6 @@ import (
 
 	"github.com/gorilla/mux"
 	"github.com/minio/minio/cmd/logger"
-	"github.com/minio/minio/pkg/bandwidth"
 	b "github.com/minio/minio/pkg/bucket/bandwidth"
 	"github.com/minio/minio/pkg/event"
 	"github.com/minio/minio/pkg/madmin"
@@ -1062,12 +1061,8 @@ func (s *peerRESTServer) GetBandwidth(w http.ResponseWriter, r *http.Request) {
 	doneCh := make(chan struct{})
 	defer close(doneCh)
 
-	var report *bandwidth.Report
-	selectBuckets := b.SelectAllBuckets()
-	if bucketsString != "" {
-		selectBuckets = b.SelectBuckets(strings.Split(bucketsString, ",")...)
-	}
-	report = globalBucketMonitor.GetReport(selectBuckets)
+	selectBuckets := b.SelectBuckets(strings.Split(bucketsString, ",")...)
+	report := globalBucketMonitor.GetReport(selectBuckets)
 
 	enc := gob.NewEncoder(w)
 	if err := enc.Encode(report); err != nil {
diff --git a/pkg/bucket/bandwidth/monitor.go b/pkg/bucket/bandwidth/monitor.go
index c86ee0106..027542ae8 100644
--- a/pkg/bucket/bandwidth/monitor.go
+++ b/pkg/bucket/bandwidth/monitor.go
@@ -91,18 +91,16 @@ func NewMonitor(doneCh <-chan struct{}) *Monitor {
 // SelectionFunction for buckets
 type SelectionFunction func(bucket string) bool
 
-// SelectAllBuckets will select all buckets
-func SelectAllBuckets() SelectionFunction {
-	return func(bucket string) bool {
-		return true
-	}
-}
-
 // SelectBuckets will select all the buckets passed in.
 func SelectBuckets(buckets ...string) SelectionFunction {
+	if len(buckets) == 0 {
+		return func(bucket string) bool {
+			return true
+		}
+	}
 	return func(bucket string) bool {
 		for _, b := range buckets {
-			if b != "" && b == bucket {
+			if b == "" || b == bucket {
 				return true
 			}
 		}
@@ -160,7 +158,7 @@ func (m *Monitor) processAvg() {
 	for _, bucketMeasurement := range m.activeBuckets {
 		bucketMeasurement.updateExponentialMovingAverage(time.Now())
 	}
-	m.pubsub.Publish(m.getReport(SelectAllBuckets()))
+	m.pubsub.Publish(m.getReport(SelectBuckets()))
 }
 
 // track returns the measurement object for bucket and object
diff --git a/pkg/bucket/bandwidth/monitor_test.go b/pkg/bucket/bandwidth/monitor_test.go
index 53a08753f..c8c2116c0 100644
--- a/pkg/bucket/bandwidth/monitor_test.go
+++ b/pkg/bucket/bandwidth/monitor_test.go
@@ -142,13 +142,13 @@ func TestMonitor_GetReport(t *testing.T) {
 				bucketThrottle: map[string]*throttle{"bucket": &thr},
 			}
 			m.activeBuckets["bucket"].updateExponentialMovingAverage(tt.fields.endTime)
-			got := m.GetReport(SelectAllBuckets())
+			got := m.GetReport(SelectBuckets())
 			if !reflect.DeepEqual(got, tt.want) {
 				t.Errorf("GetReport() = %v, want %v", got, tt.want)
 			}
 			m.activeBuckets["bucket"].incrementBytes(tt.fields.update2)
 			m.activeBuckets["bucket"].updateExponentialMovingAverage(tt.fields.endTime2)
-			got = m.GetReport(SelectAllBuckets())
+			got = m.GetReport(SelectBuckets())
 			if !reflect.DeepEqual(got, tt.want2) {
 				t.Errorf("GetReport() = %v, want %v", got, tt.want2)
 			}