Jalan panel moots transfer of surplus by RBI in stages© hindustantimes.com

Jalan panel moots transfer of surplus by RBI in stages

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The Bimal Jalan panel set up to review the economic capital framework of the Reserve Bank of India (RBI) has decided to recommend transfer of excess reserves to the government in a staggered manner over a period of three to five years based on a predetermined formula.

“We have finalised the report. It will be submitted in 10 to 15 days to the RBI after editing,” an official of the panel said, adding that the recommendation for transfer of excess reserves involved both contingency fund as well as revaluation fund. The Bimal Jalan panel set up to review the economic capital framework of the Reserve Bank of India (RBI) has decided to recommend transfer of excess reserves to the government in a staggered manner over a period of three to five years based on a predetermined formula.

“We have finalised the report. It will be submitted in 10 to 15 days to the RBI after editing,” an official of the panel said on the condition of anonymity. The panel had its last meeting on Wednesday.