NEW DELHI (Reuters) - 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.
Reporting by Aftab Ahmed; Editing by Kim Coghill