(Mint file)
(Mint file)

RBI panel defers reserves report for third time

  • The six-member panel was originally supposed to submit the report in April
  • The panel was set up following a controversy between the RBI and the Centre on how much of the profit made from the central bank’s trading in bonds and currencies should be transferred to the government

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.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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