Bimal Jalan to lead panel on RBI’s economic capital framework
6 years ago

Bimal Jalan to lead panel on RBI’s economic capital framework

Live Mint  

New Delhi: The Reserve Bank of India on Wednesday set up an expert committee, headed by its former governor Bimal Jalan, to suggest how the central bank should handle its reserves and whether it can transfer its surplus to the government. The committee, which has been formed to review the existing economic capital framework, will have former RBI deputy governor Rakesh Mohan as its vice chairman. “ propose a suitable profits distribution policy taking into account all the likely situations of the RBI, including the situations of holding more provisions than required and the RBI holding less provisions than required,” the central bank said in a statement on Wednesday. The central bank’s core reserve —contingency fund—is only around 7% of its total assets and the rest of it is largely in revaluation reserves, which fluctuate with corresponding changes in currency and gold valuations.

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History of this topic

Bimal Jalan panel recommends review of RBI capital norms once in 5 years
5 years, 4 months ago

Bimal Jalan panel recommends review of RBI capital norms once in 5 years

India TV News  

The Bimal Jalan-led panel has recommended a review of the Reserve Banks Economic Capital Framework every five years. The ‘Report of the Expert Committee to Review the Extant Economic Capital Framework of the Reserve Bank of India' released by the RBI on Tuesday also said that in the following years, interim dividend to the government may be paid only under …

Bimal Jalan panel says RBI can pay interim dividend to govt only under exceptional circumstances; recommends review of ECF every 5 years
5 years, 4 months ago

Bimal Jalan panel says RBI can pay interim dividend to govt only under exceptional circumstances; recommends review of ECF every 5 years

Firstpost  

The Bimal Jalan panel was constituted by the central bank in consultation with the government to review the extant ECF of the RBI The Bimal Jalan panel of the Reserve Bank of India which recommended that the central bank transfer surplus reserves to the government has come out with a slew of recommendations. The panel recommended that the revised economic …

RBI can pay interim dividend to govt in exceptional cases: Jalan panel
5 years, 4 months ago

RBI can pay interim dividend to govt in exceptional cases: Jalan panel

Live Mint  

Mumbai: A Reserve Bank of India panel, led by former governor Bimal Jalan, has recommended that the central bank pay interim dividend to the government, a practice that started in 2016-17, only under exceptional circumstances. The Jalan committee has also recommended that RBI’s capital framework be reviewed every five years and its accounting year be aligned with the fiscal year …

RBI to transfer surplus of Rs 1.76 lakh crore to the government as per Bimal Jalan Committee recommendation
5 years, 4 months ago

RBI to transfer surplus of Rs 1.76 lakh crore to the government as per Bimal Jalan Committee recommendation

Op India  

The Reserve Bank of India has decided to transfer an amount of ₹1,76,051 crore to the Government of India. The central bank took this decision by accepting the recommendations of Bimal Jalan Committee on surplus transfer to the government. The ₹1.76 lakh crore to be transferred consists of ₹1,23,414 crore of surplus for the year 2018-19 and ₹52,637 crore of …

RBI Board meet on Monday to mull over Jalan panel report
5 years, 4 months ago

RBI Board meet on Monday to mull over Jalan panel report

India TV News  

The RBI Board meeting on Monday to finalise its annual accounts is also likely to take up the Bimal Jalan panel's recommendations on Economic Capital Framework along with the dividend payment to the government, sources said. Sources had earlier told IANS that the RBI may start transferring the first tranche of the surplus this calendar, based on the Jalan panel …

Bimal Jalan panel to submit report to RBI soon; suggests transfer of cental bank’s surplus capital in tranches over 3-5 years
5 years, 5 months ago

Bimal Jalan panel to submit report to RBI soon; suggests transfer of cental bank’s surplus capital in tranches over 3-5 years

Firstpost  

The six-member panel, under former RBI governor Jalan was appointed on 26 December 2018, to review the economic capital framework for the RBI. The six-member panel, under former RBI governor Jalan was appointed on 26 December 2018, to review the economic capital framework for the Reserve Bank of India after the finance ministry wanted the central bank to follow global …

RBI capital transfer: Bimal Jalan panel likely to get extension to finalise report; govt to replace its representative after SC Garg's transfer
5 years, 5 months ago

RBI capital transfer: Bimal Jalan panel likely to get extension to finalise report; govt to replace its representative after SC Garg's transfer

Firstpost  

The government and the RBI, during the tenure of the previous governor Urjit Patel, had been at loggerheads over the surplus capital with the central bank. New Delhi: The Bimal Jalan panel may get more time to finalise its report on excess capital transfer from the Reserve Bank of India to the government as Subhash Chandra Garg has been moved …

Subhash Chandra Garg’s exit and Bimal Jalan report: Did dissent on surplus transfer trigger top official’s ouster from FinMin?
5 years, 5 months ago

Subhash Chandra Garg’s exit and Bimal Jalan report: Did dissent on surplus transfer trigger top official’s ouster from FinMin?

Firstpost  

The ECF is one issue, but Garg has spearheaded too many controversial battles for the Finance Ministry with the RBI. What will Subhash Chandra Garg’s abrupt exit from government mean for Bimal Jalan report on Reserve Bank of India’s capital surplus transfer to the government? Also, note that Garg’s exit happens shortly after his reported dissent note on the Bimal …

Jalan panel to recommend transfer of surplus RBI reserves to govt in tranches
5 years, 5 months ago

Jalan panel to recommend transfer of surplus RBI reserves to govt in tranches

Live Mint  

New Delhi: The Bimal Jalan panel that was set up to review the economic capital framework of the Reserve Bank of India has decided to recommend transfer of surplus reserves to the government in a staggered manner over three-five years based on a predetermined formula. The transfer of surplus capital may help the government meet its fiscal deficit target at …

Bimal Jalan panel on RBI's capital size again defers report submission deadline till Budget next month
5 years, 6 months ago

Bimal Jalan panel on RBI's capital size again defers report submission deadline till Budget next month

Firstpost  

The six-member panel, under former RBI governor Jalan, was appointed on 26 December, 2018, to review the Economic Capital Framework for the RBI New Delhi: The Bimal Jalan committee, which is looking into the size of capital reserves that the RBI should hold, Monday again deferred its report submission deadline till Budget next month. The six-member panel, under former RBI …

Jalan panel report on RBI’s capital size to be finalized by June-end: Guv Das
5 years, 6 months ago

Jalan panel report on RBI’s capital size to be finalized by June-end: Guv Das

Live Mint  

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 this month-end. The six-member panel, under former RBI Governor Jalan, was appointed on December 26, 2018, to review the economic capital framework for the Reserve Bank …

Jalan panel still working on report on RBI’s capital size, to meet 13 June: Garg
5 years, 7 months ago

Jalan panel still working on report on RBI’s capital size, to meet 13 June: Garg

Live Mint  

The Bimal Jalan panel, set up to determine the suitable capital reserves for the RBI, will maintain its subsequent assembly on 13 June, said Finance Secretary Subhash Chandra Garg on Thursday, IANS reported. The six-member Jalan panel was appointed on December 26, 2018 to review the Economic Capital Framework for the Reserve Bank of India. Garg, who is a member …

Former governor Bimal Jalan panel on RBI's Economic Capital Framework to submit report next month
5 years, 8 months ago

Former governor Bimal Jalan panel on RBI's Economic Capital Framework to submit report next month

Firstpost  

The six-member Jalan panel was appointed on December 26, 2018 to review the Economic Capital Framework for the RBI New Delhi: 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, is likely to submit its report next month. The six-member Jalan panel was appointed on …

Bimal Jalan panel to hold at least 2 more meets before final report on RBI capital reserves size
5 years, 8 months ago

Bimal Jalan panel to hold at least 2 more meets before final report on RBI capital reserves size

Firstpost  

A high-level panel looking into appropriate capital reserves the RBI should maintain will hold at least two more meetings before finalising the report, former Reserve Bank governor Bimal Jalan, who is heading the committee, said New Delhi: A high-level panel looking into appropriate capital reserves the RBI should maintain will hold at least two more meetings before finalising the report, …

RBI is accountable to the government, says Bimal Jalan
6 years ago

RBI is accountable to the government, says Bimal Jalan

Live Mint  

New Delhi: The Reserve Bank of India is accountable to the government and should make policies within the framework set by the government, according to a former central bank chief now heading a panel tasked with framing guidelines for the transfer of the RBI’s surplus funds to the government. Bimal Jalan, the 77-year-old ex-bureaucrat, was appointed to chair the panel …

Bimal Jalan panel holds first meet to examine reserve size of RBI, dividend to be given to govt; report likely in April
6 years ago

Bimal Jalan panel holds first meet to examine reserve size of RBI, dividend to be given to govt; report likely in April

Firstpost  

The government and the RBI under previous governor Urjit Patel had been at loggerheads over the Rs 9.6 lakh crore surplus capital with the central bank. New Delhi: A high-level panel led by former Reserve Bank of India governor Bimal Jalan Tuesday held its first meeting to decide on an appropriate size of reserves that the central bank should maintain …

Jalan panel was finalized when Patel was still RBI governor: FM
6 years ago

Jalan panel was finalized when Patel was still RBI governor: FM

Live Mint  

New Delhi: Finance minister Arun Jaitley on Monday said the composition of the expert committee to suggest how the central bank should handle its reserves, and whether it can transfer its surplus to the government, was finalised when Urjit Patel was still the Reserve Bank of India governor. This is contrary to the belief that the composition of the high-level …

Bimal Jalan to head panel to decide on RBI cash reserves: Former central bank governor enjoys govt support, but committee to have final say
6 years ago

Bimal Jalan to head panel to decide on RBI cash reserves: Former central bank governor enjoys govt support, but committee to have final say

Firstpost  

Jalan will lead a six-member committee which will review the status, need and justification of various provisions, reserves and buffers presently provided for by the RBI The Reserve Bank of India on Wednesday formed an expert committee on economic capital framework led by former RBI governor Bimal Jalan to determine the amount of reserves it needs to keep and the …

RBI constitutes committee on Economic Capital Framework, appoints former governor Bimal Jalan as chairman
6 years ago

RBI constitutes committee on Economic Capital Framework, appoints former governor Bimal Jalan as chairman

Firstpost  

Former deputy governor Rakesh Mohan has been appointed as vice chairman of the committee, the RBI said The Reserve Bank of India has constituted the Expert Committee on Economic Capital Framework with former governor Bimal Jalan as its chairman. Former deputy governor Rakesh Mohan has been appointed as vice chairman of the committee, the RBI said in a statement on …

Who is Shaktikanta Das? The New RBI Governor on the Block
6 years, 1 month ago

Who is Shaktikanta Das? The New RBI Governor on the Block

The Quint  

The new governor takes charge at a time a number of contentious issues persist between the central bank and the government. At the last board meeting of the RBI’s central board in November, it had been decided to set up a committee to re-look at the economic capital framework adopted by the RBI. The board is scheduled to meet next …

Expert panel to examine Reserve Bank of India's economic capital framework to be formed within a week
6 years, 1 month ago

Expert panel to examine Reserve Bank of India's economic capital framework to be formed within a week

Firstpost  

The government and the central bank will jointly decide on the members of the panel and the scope of the panel, the RBI said in a statement late on Monday. The committee for Reserve Bank of India’s economic capital framework will be formed with a week, government sources said. Detailed guidelines to be issued shortly: Govt Sources — ANI November …

Government wants to ‘capture’ RBI’s reserves, says Congress leader P Chidambaram
6 years, 1 month ago

Government wants to ‘capture’ RBI’s reserves, says Congress leader P Chidambaram

Hindustan Times  

Ahead of RBI Board meeting, Congress leader P Chidambaram Sunday alleged that the central government was determined to “capture” the bank to gain control over its Rs 9 lakh crore reserves. Congress leader P Chidambaram Sunday alleged that the central government was determined to “capture” the bank to gain control over its Rs 9 lakh crore reserves. The government on …

Stage set for another RBI-govt showdown
6 years, 2 months ago

Stage set for another RBI-govt showdown

Live Mint  

New Delhi: The stage is set for another showdown between the Reserve Bank of India and the Union government with the Centre sticking to its ground on Friday. Discussions are underway with the RBI to decide the appropriate economic capital framework of the central bank, Subhash Chandra Garg, secretary of the department of economic affairs, said on Twitter. In a …

RBI autonomy: Bimal Jalan says it’s central bank’s job to implement govt policy, governor should quit if differences cannot be resolved
6 years, 2 months ago

RBI autonomy: Bimal Jalan says it’s central bank’s job to implement govt policy, governor should quit if differences cannot be resolved

Firstpost  

The sharply depreciating rupee amidst rising global oil prices and the massive foreign funds outflow from the capital market are not crises If there are irreconcilable differences of opinion between the government and the regulator, then ‘whoever is heading the agency should step down,’ said Bimal Jalan, former governor to RBI to Mint. The sharply depreciating rupee amidst rising global …

Bimal Jalan heads panel to select next CEA
6 years, 4 months ago

Bimal Jalan heads panel to select next CEA

Live Mint  

New Delhi: The government has appointed a panel under former Reserve Bank of India governor Bimal Jalan to select the next chief economic adviser in the finance ministry, two months after it sought applications for the post after Arvind Subramanian resigned from office. The government in its notification seeking applications for the post had encouraged government officers, including those from …

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