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Bimal Jalan Committee
On 26th August, 2019,the Reserve Bank of India (RBI) decided to transfer a sum of Rs. 1,76,051 crore to the Government of India as per the recommendations made by Bimal Jalan Committee. Consider the following statements regarding the committee:
- The 5 member committee was appointed in December, 2018 to review Economic Capital Framework (ECF) for central bank.
- The panel’s recommendation for transfer of excess reserves includes only contingency funds.
Which of the statements given above is /are correct?
A |
Only 1
|
|
B |
Only 2
|
|
C |
Both 1 and 2
|
|
D |
None of the above
|
Your Ans is
Right ans is D
Your Answer Is Correct
Your Answer Is Wrong
Explanation :
- The Reserve Bank of India (RBI), in consultation with the government, constituted a 6 member committee headed by the former RBI Governor Bimal Jalan in December, 2018, to review the economic capital framework of the Reserve Bank of India.
- Composition-
- Former RBI Governor Bimal Jalan (Chairman)
- Former Deputy Governor of RBI Rakesh Mohan (deputy chairman)
- Economic Affairs Secretary Subash Chandra Garg (member),
- RBI Deputy Governor N.S. Vishwanathan (member)
- RBI board member Bharat Doshi (member)
- RBI board member Sudhir Mankad (member)
- The panel’s recommendation for transfer of excess reserves includes both the contingency fund and currency and gold revaluation reserve. Therefore, both the given statements are incorrect.
Source:Civil Services Chronicle Online
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