New Delhi: A panel set up by the Reserve Bank of India (RBI) to review economic capital framework has estimated that the central bank can transfer Rs 80-bn- surplus to the government, a report by BloombergQuint said.
Bimal Jalan-led panel, which also has Finance Secretary Subhash Chandra Garg as a member, met on Jun 12 to finalise the report and has estimated 80 bln rupees of excess capital with the Reserve Bank of India, BloombergQuint’s website said. The panel will now meet on Jul 17 to give a final touch to the report and submit it subsequently to the RBI.
Late December, the RBI had set up a panel under former governor Bimal Jalan to review its economic capital framework. The terms of reference of the panel included reviewing the status and need for various reserves and buffers held by the RBI.
Other members of the panel are Deputy Governor N.S. Vishwanathan, RBI board members Sudhir Mankad and Bharat Doshi, and former deputy governor Rakesh Mohan.
