RBI Surplus

The amount may not be very significant in terms of supporting the govt finances as it would be around 0.25% of GDP against an expected fiscal deficit of close to 8% for 2020-21

This year's surplus was higher than usual and therefore, a large transfer in any case was going to happen, says Mohan

Subhash Chandra Garg was expecting around Rs 1.5 trillion from the RBI

According to various estimates, the RBI has over Rs 9 trillion of surplus capital with it

The report said there is a 45 per cent probability for the money to be used for regular government spending and only 20 per cent chance that it will be used for bank recapitalisation

The ECF panel constituted by the RBI was mandated to submit its report within 90 days of its first meeting, which took place on January 8. Following this, the panel was given a three-month extension

The RBI needs to build up its reserves to deal with volatility in the markets it oversees as well as to handle the government borrowing programmes, among other things