Bengaluru: A Reserve Bank of India panel deciding on guidelines for transfer of the central bank's surplus funds to the government delayed submitting its report on Wednesday, due to a difference of opinion, officials said.
The six-member panel, headed by Former RBI Governor Bimal Jalan, which was originally supposed to submit the report in April, delayed it for a third time due to lack of consensus.
The panel was set up after a controversy between the Reserve Bank of India and the government erupted over how much of the profit made from central bank’s trading in bonds and currencies should be transferred to the government, and how much should be retained to build up reserves.
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