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An exceptional year

Govt needs to reduce dependence on RBI

Liquidity management tool: RBI may have to balance old norms with the new
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Business Standard Editorial Comment
The Reserve Bank of India (RBI) has released its Annual Report for 2018-19, which explains its actions over the past year and outlines expectations for the broader economy. The Annual Report comes shortly after reports that the RBI will transfer a considerable amount, over Rs 1.7 trillion, to the government’s coffers this year. This is thanks to a much larger surplus of Rs 1.23 trillion, with excess provisioning making up the remainder. This followed the recommendations of a high-level committee led by former RBI governor Bimal Jalan. The surplus is high partly due to an acceleration in open market operations

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First Published: Aug 29 2019 | 11:42 PM IST

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