RBI constitutes Expert Committee on Economic Capital Framework - ಆರ್ಬಿಐ - Reserve Bank of India
RBI constitutes Expert Committee on Economic Capital Framework
As decided by the Central Board of Reserve Bank of India (RBI) in its meeting held on November 19, 2018, the RBI, in consultation with the Government of India, has today constituted an Expert Committee to review the extant Economic Capital Framework of the RBI. The composition of the Committee is as under:
2. The terms of reference of the Committee are given below: 2.1 Keeping in consideration (i) statutory mandate under section 47 of the RBI Act that the profits of the RBI shall be transferred to the Government, after making provisions ‘which are usually provided by the bankers’, and (ii) public policy mandate of the RBI, including financial stability considerations, the Expert Committee would:
2.2 To suggest an adequate level of risk provisioning that the RBI needs to maintain; 2.3 To determine whether the RBI is holding provisions, reserves and buffers in surplus / deficit of the required level of such provisions, reserves and buffers; 2.4 To propose a suitable profits distribution policy taking into account all the likely situations of the RBI, including the situations of holding more provisions than required and the RBI holding less provisions than required; 2.5 Any other related matter including treatment of surplus reserves, created out of realised gains, if determined to be held. 3. The Expert Committee will submit its report within a period of 90 days from the date of its first meeting. Jose J. Kattoor Press Release: 2018-2019/1468 |