RBI reserves panel expected to submit report by June end: Official

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The government panel constituted to frame the guidelines for the transfer of the RBI’s surplus reserves is most likely to submit its report by June end, said the head of the panel on Wednesday.

The panel had requested for an extension over the predetermined 90 days period to finalise the report, said Bimal Jalan, the head of the panel, while addressing the media.

The panel was constituted after a disagreement between the Reserve Bank of India and Prime Minister Narendra Modi‘s government erupted on how much of the profit made from the Central Bank’s trading in bonds and currencies should be given to the Centre, and how much of it should be retained to level-up the reserves.

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