Guest
Welcome, Guest

Login/Register

Bookmark Bookmark

RBI Panel on Economic Capital Framework

RBI Panel on Economic Capital Framework

The RBI-appointed Bimal Jalan committee, tasked with determining the capital reserves central bank should hold, has again failed to reach a consensus, leading to a significant delay in finalising the report.

The committee has now decided to meet again before submitting the final report by the June-end. The six-member panel was formed on December 26, 2018, to review the Economic Capital Framework (ECF) for the apex bank.

The committee was supposed to submit its report on April 8 but was later given a three-month extension.

A major difference of opinion is between the government's representative on the panel, Economic Secretary SC Garg, and other committee members over the transfer of "excess" capital reserves.

Apart from Jalan and Garg, other members of the panel include former deputy governor Rakesh Mohan (vice-chairman of the panel), RBI deputy governor NS Vishwanathan, and RBI central board members Bharat Doshi and Sudhir Mankad.

Surplus cash reserves with RBI

The transfer of RBI's reserves to the government has been a contentious issue between the two sides for a long time.

As of June 30, 2018, the RBI's reserves stood at Rs 9.43 lakh crore, with a major portion of the reserves coming from contingency fund (Rs 2.32-lakh crore) and currency and gold revaluation account (CGRA) (Rs 6.91-lakh crore).

You might be interested:

Thawarchand Gehlot appointed as leader of Rajya Sabha

Thawarchand Gehlot appointed as leader of Rajya Sabha Thawarchand Gehlot, Union Minister of Social Justice and Empowerment was recently appointed as Leader of Rajya Sabha. The Leader of the Rajya Sabh ...

6 months ago

Daily News Digest:13 June 2019

TCS Market Cap: With $120.5 billion m-cap, TCS valued more than IBMIndian IT company Tata Consultancy Service (TCS) overtook IBM, which is one of the biggest global technology majors in terms of marke ...

6 months ago

Banking Digest, 14 June 2019

Economy As per the World Investment Report 2019 by the UN Conference on Trade and Development (UNCTAD), Foreign Direct Investment (FDI) to India in 2018 grew by – 6% (to $42 billion). Indi ...

6 months ago

One Liners of the Day, 14 June 2019

Environment According to the ‘BP Statistical Review of World Energy’, Global carbon emissions in 2018 grew by – 2%. International TheShanghai Cooperation Organization (SCO) Summit ...

6 months ago

Chandrayaan-2 to be launched on July 15

Chandrayaan-2 to be launched on July 15 India's second mission to the moon, Chandrayaan-2, is scheduled to lift off at 2:51 am on July 15 from Sriharikota in Andhra Pradesh. Space agency ISRO is givin ...

6 months ago

Emissions rose an 'unsustainable' 2% in 2018: study

Emissions rose an 'unsustainable' 2% in 2018: study Global carbon emissions grew by 2.0 percent last year, the highest rate since 2010-2011, a closely-watched review by energy giant BP said 11 June ca ...

6 months ago

Provide your feedback on this article: