Bimal Jalan panel on Reserve Bank of India surplus to resolve differences

Bimal Jalan

New Delhi: The Bimal Jalan-led committee tasked to make recommendations on the RBI’s Economic Capital Framework (ECF) regarding the central bank’s reserves, will meet once again this month and hopes submit its report by end of June, panel Chairman Bimal Jalan said on Wednesday.

Official sources said that at the committe meeting earlier in the day, differences among panel members on the key issue of the RBI’s surplus reserves may have delayed a decision and there may be some convergence by the next meeting.

“The report is still not final and there will be one more meeting over this. We will hopefully submit the report by the end of this month,” Jalan told reporters here after the meeting.

The Reserve Bank of India (RBI) had set up a panel last December under the chairmanship of Jalan, a former RBI Governor, to review its economic capital framework. The terms of re ference of the panel included reviewing the status and need for various reserves and buffers held by the RBI.  (IANS)

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