The Reserve Bank of India (RBI) appointed former governor Bimal Jalan as the chairman of the Economic Capital Framework (ECF) committee formed to address the issue of excess reserves with the central bank.
Former RBI deputy governor Rakesh Mohan has been appointed the vice-chairman of the committee. Other members include Bharat Doshi, Sudhir Mankad, Subhash Chandra Garg, and N.S. Vishwanathan.
The committee will decide whether RBI is holding provisions, reserves, and buffers in the surplus or deficit of the required levels. It will submit its report within 90 days of the first meeting.
Source- The Livemint
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- RBI 25th Governor: Shaktikanta Das, Headquarters: Mumbai, Founded: 1 April 1935, Kolkata.