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Jalan panel to submit long-delayed report on transfer of central bank surplus funds 'very soon': Report

A Reserve Bank of India (RBI) panel formulating guidelines for transfer of the central bank's surplus funds to the government has finalized its recommendations and will be submitting its long-delayed report "very soon," a source familiar with the matter said on Wednesday.

twitter-logoReuters | July 17, 2019 | Updated 15:59 IST
Jalan panel to submit long-delayed report on transfer of central bank surplus funds 'very soon': Report
The reserve panel has suggested transfer of funds from RBI in tranches over 3-5 years, the source said.

A Reserve Bank of India (RBI) panel formulating guidelines for transfer of the central bank's surplus funds to the government has finalized 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.

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