Published On : Wed, Jul 17th, 2019

RBI should transfer surplus cash to govt: Panel

In a major development, a high-level panel led by former RBI governor Bimal Jalan, set up to decide the appropriate capital reserves that the central bank should maintain, Wednesday finalised its report. The six-member Jalan panel was appointed on December 26, 2018 to review the Economic Capital Framework for the RBI.

The panel has finalised its report and no further meeting will take place, sources said after the meeting concluded in New Delhi.

RBI should transfer its surplus cash to the government over the next three-five year period, Jalan Committee, appointed by the Finance Ministry to assess surplus with the central bank, is believed to have recommended in its report.