RBI to transfer Rs 1,76,051 crore to the Government

RBI to transfer Rs 1,76,051 crore to the Government

• The Reserve Bank of India (RBI) has decided to transfer a sum of Rs 1,76,051 crore to the Government of India. 
• This comprises of Rs 1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF). 
• The decision has been taken as per the recommendation of the Expert Committee to Review the Extant Economic Capital Framework of the Reserve Bank of India (Chairman: Dr. Bimal Jalan).

Points to remember:

1. What total amount of money will RBI transfer to GOI as per the recommendation of Jalan Committee? – Rs 1,76,051 crore 
2. What amount of surplus will RBI transfer to GOI for 2018-19? – Rs 1,23,414 crore
3. What amount will RBI transfer to GOI asf excess provisions identified as per the revised Economic Capital Framework (ECF)?- Rs 52,637 crore.

Source: RBI