INSUBCONTINENT EXCLUSIVE:
RBI's surplus and profits to the government in wake of the earlier Finance Ministry nominee and former finance secretary Subhash Chandra
Garg's transfer to another ministry leading to the slot falling vacant."Since a new nominee has come, the RBI would decide on exactly what
needs to be done and I can't comment more at this time
The RBI and government will take the call on filling up the gap that has been created due to vacancy from government nominee side," panel
transfer to the Power Ministry might see the panel meeting again
This, however, could not be confirmed.The report will stand as was decided in the last meeting and the new government nominee's signature
which had concluded discussions and were to submit its report on the RBI's economic capital framework now might have to wait on the
the sole dissenter, who opposed the capital framework decided by the committee and had refused to sign it, instead of giving a dissent
Mr Garg said later, after taking over the Power Secretary post, that he did not sign the report as it was not final.The RBI Central Board
On July 18, the panel had met for the last time to decide on the exact amount of transfer to government by the RBI and the overall consensus
was to transfer it over three to five years and not in one go, which Mr Garg had objected to.Get Breaking news, live coverage, and Latest
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