Jalan panel defers report on RBI surplus funds after lack of consensus

New Delhi: The Bimal Jalan committee, which is looking into the size of capital reserves that the RBI should hold, will have one more meeting before finalising its report to be submitted to the apex bank by month-end.

The six-member panel under former RBI governor Jalan was appointed on 26 December, 2018, to review the Economic Capital Framework (ECF) for the Reserve Bank after the Finance Ministry wanted the RBI to follow global best practices and transfer more surplus to the government.

The RBI has over Rs 9.6 lakh crore surplus capital with it.

"The ECF panel will meet one more time and will submit the report by month-end," an official told reporters here after the meeting.