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RBI accepts Jalan panel report, approves Rs 1.76 lakh crore surplus transfer to govt

The Reserve Bank of India (RBI) on Monday accepted Bimal Jalan committee recommendations and approved surplus transfer to the government.RBI board decided to transfer a sum of Rs 1,76,051 crore to the Government of India comprising of Rs 1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF) adopted at its board meeting.
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