Bimal Jalan-led six-member panel to decide on RBI reserves transfer

The Reserve Bank of India (RBI) on Wednesday constituted an expert committee headed by former governor Bimal Jalan to review its economic capital framework, and whether the central bank needs to hold as much reserves as it currently does. 

Former deputy governor Rakesh Mohan will be vice-chairman of the six-member committee, which also includes RBI central board directors Bharat Doshi and Sudhir Mankad, Economic Affairs Secretary Subhash Chandra Garg and RBI deputy governor N S Vishwanathan.

It was decided in the November 19 board meeting of the RBI that an expert committee would be formed to examine if the central bank’s reserves