Jalan panel defers report on RBI surplus funds after lack of consensus

A Reserve Bank of India (RBI) committee considering guidelines for transfer of the central bank's surplus funds to the government delayed submitting its report Wednesday, after lack of consensus, officials said.

The six-member committee led by former RBI governor Bimal Jalan will met once more before submitting its report by the month-end. 

The committee was appointed in December 2018 to review the Economic Capital Framework (ECF) for the Reserve Bank after the Finance Ministry advised the central bank to transfer surplus funds to the government. The RBI has over Rs 9.6 lakh crore surplus capital.

"There may be differences of