The autonomy for the Central Bank, within the framework of the Reserve Bank of India (RBI) Act, is an essential and accepted governance requirement. A press release was issued by the Government on 31.10.2018
Press Information Bureau
Government of India
Ministry of Finance
14-December-2018 18:19 IST
Autonomy of RBI
The autonomy for the Central Bank, within the framework of the Reserve Bank of India (RBI) Act, is an essential and accepted governance requirement. A press release was issued by the Government on 31.10.2018 as below:
The Government asked RBI for a review of its Economic Capital Framework (ECF) adopted in 2016. As per press release by RBI on 19.11.2018, the Board has decided to constitute an Expert Committee to examine the ECF, the membership and terms of reference of which will be jointly determinedly the Government and RBI and that RBI should consider a scheme for restructuring of stressed standard assets of MSME borrowers with aggregate credit facilities of up to Rs. 25 crore, subject to conditions for ensuring financial stability.
The details of RBI surplus transferred to the Government during the last five years are as follows:
|Financial year of RBI||Surplus transferred to Government (in crore Rupees)|
This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today.