Jalan to submit report on RBI reserve in April’19

A six-member panel led by former RBI governor Bimal Jalan has been entrusted with the task of reviewing the best practices followed by central banks worldwide in making assessment and provisions for risks which a central bank worldwide in making assessment and provisions for risks which a central bank balance sheets are subject to.

The panel having former economic affairs secretary Rakesh Mohan as its vice chairman will propose a suitable profit distribution policy taking into account all the likely situations of RBI, including the situation of holding more provisions than required.

The government and RBI under previous governor Urjit Patel had been at loggerheads over the Rs 9.6 lakh crore surplus capital with the central bank.

The panel is expected to submit report by April 2019.