Reserve Bank of India decided to transfer Rs.1.76 lakh crore surplus reserve to the government after approving the recommendation from high level panel headed by its former Governor Bimal Jalan led expert committee.
The surplus includes Rs.1,23,414 crore for 2018-19 and Rs. 52,637 crore of excess provision identified as per the revised Economic Capital Framework (ECF) . The extra money given in this time is out of the contingency fund, now maintained at 5.5%(previously 6.8%) after Bimal Jalan Panel Report.
Apoorv Agrawal