The Reserve Bank of India has constituted an Expert Bimal Jalan Committee on Economic Capital Framework of the RBI. The committee was formed in November 2018 to review current economic capital framework. The committee was headed by formed RBI Governor Dr. Bimal Jalan. The RBI accepted all the recommendations of the committee.
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The Reserve Bank of India (RBI) has developed an Economic Capital Framework (ECF) to provide an objective, rule-based, transparent methodology for determining the appropriate level of risk provisions to be made under Section 47 of the Reserve Bank of India Act, 1934. The framework was developed in 2014–15 and was operationalised in 2015-16.
The recommendations of committee were:
Following the recommendation of committee, the Reserve Bank of India (RBI) has approved the transfer of record Rs 1.76 lakh crore dividend and surplus reserves to the government.
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