A Reserve Bank of India (RBI) panel formulating guidelines for transfer of the central bank's surplus funds to the government has finalised its recommendations and will be submitting its long-delayed report "very soon," a source familiar with the matter said on Wednesday.
The six-member panel, headed by former RBI Governor Bimal Jalan, was originally supposed to submit the report in April, but it was delayed due to a lack of consensus.
The reserve panel has suggested transfer of funds from RBI in tranches over 3-5 years, the source said. It was not immediately clear how much money the RBI will transfer to the government.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
