The panel will interview shortlisted candidates on August 7; the selected name from the interview will be sent to the Appointments Committee of the Cabinet headed by the Prime Minister for final approval

This vacancy of RBI deputy governor has been reserved for the central bank's internal candidate, who would look after the key supervisory and regulatory functions at the Mint Road

Michael Debabrata Patra appointed RBI Deputy Governor: He is currently the Executive Director of the Monetary Policy Department

The FSRASC is headed by the cabinet secretary. The committee includes RBI Governor Shaktikanta Das and financial services secretary

Vishwanathan said the RBI's revised framework on resolution of stressed assets introduced on June 7 is \"less intrusive\" as it gives banks the leeway to draft their own resolution plans for a particular case.

Now, all the other three deputy governors-NS Vishwanathan, BP Kanungo and MK Jain-have been made responsible for 12 departments each

The Committee on Economic Capital Framework, which met on Wednesday for the final time, has reportedly recommended transferring of funds from both contingency and revaluation reserves to the government

The transmission of a cut in policy rate by banks to final borrowers, especially retail borrowers, has been a pressing issue between the banking regulator Reserve Bank of India (RBI) and banks for decades

The Appointments Committee of the Cabinet has approved re-appointment of Vishwanathan as the deputy governor for a period of one more year with effect from July 4 this year

The fund allocation to PSBs will be crucial to restore the health of the banks which have been grappled with various issues, such as rising bad loans, delays in resolution of large cases under the insolvency and bankruptcy code and liquidity crisis

Budget 2019: A statement by Finance Ministry also said that capital infusion in PSBs and a separate bond exchange were among other issues discussed.

The transfer of RBI's reserves to the government has been a contentious issue; while some members say cash reserves should be transferred in a phased manner, the government wants to make it a 'one-time transfer'

The Bimal Jalan committee on the appropriate capital reserves for the Reserve Bank is likely to identify an excess buffer of up to Rs 3 lakh crore, according to a foreign brokerage.

The panel will propose a suitable profit distribution policy taking into account all the likely situations of RBI, including the situation of holding more provisions than required.

The Expert Committee on Economic Capital Framework will suggest adequate level of provisions, reserves and buffers to be held by the RBI, and determine whether they are held in surplus or deficit by the central bank.