Lok Sabha Question No. 1975 (UNSTARRED), answered on 2022-03-14
Subject: Report of Bimal Jalan Committee
Ministry: FINANCE
Asked by: Gopal Chinayya Shetty

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA

## UNSTARRED QUESTION NO. 1975

TO BE ANSWERED ON MONDAY, MARCH 14, 2022 / PHALGUNA 23, 1943 (SAKA)

## Report of Bimal Jalan Committee

1975.  Shri Gopal Chinnaya Shetty

Will the Minister of FINANCE be pleased to state:

- (a) whether the report of the Bimal Jalan Committee on capital transfer has been received by the Central Board of the Reserve Bank of India (RBI) in July 2019;
- (b) if so, the details of the recommendations made in the said report;
- (c) whether RBI has decided to transfer funds to the Government as bank dividend and surplus reserve on the basis of Bimal Jalan Panel Report;
- (d) if so, the amount of funds decided to be transferred by RBI to the Government;
- (e) whether  RBI  has  transferred  funds  as  bank  dividend  and  surplus  reserve  to  the Government in the past also; and
- (f) if so, the dates on which RBI has transferred the funds along with the amount thereof?

## ANSWER

## Minister of State in the Ministry of Finance (Shri Pankaj Chaudhary)

- (a) The report of the Expert Committee to Review the Extant Economic Capital Framework of the Reserve Bank of India (Chairman: Dr. Bimal Jalan) was placed before the Central Board in its meeting held on August 26, 2019.
- (b) The  report of the Expert Committee  is available in public domain  and  the recommendations made in this report can be accessed at https://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/EXPERTCOMMITTEE77670FDAE7ED 42BFBAA68715535BD173.PDF
- (c) The risk provisioning and surplus transfer to the Government of India for the Financial Year 2018-19, 2019-20 and 2020-21 have been carried out as per the recommendations of the Expert Committee.

(d)

| Accounting Year                   | Amount (in ₹ crore)   |
|-----------------------------------|-----------------------|
| 2018-19 (July 2018 to June 2019)  | 1,75,987.73           |
| 2019-20 (July 2019 to June 2020)  | 57,127.53             |
| 2020-21 (July 2020 to March 2021) | 99,122.00             |

- (e) Yes Sir. In terms of Section 47 of the RBI Act, 1934, RBI has been transferring the surplus to GoI in past also.
- (f) Information is given in Annex.

****************

## Table below shows the amount of surplus transferred to the Government of India in the form of surplus over ten years (prior to approval of Expert Committee)

| Year*   | Date of Transfer   | Amount (in ₹ crore)                                                                                  |
|---------|--------------------|------------------------------------------------------------------------------------------------------|
| 2008-09 | August 13, 2009    | 25,009.00                                                                                            |
| 2009-10 | August 12, 2010    | 18,759.00                                                                                            |
| 2010-11 | August 11, 2011    | 15,009.00                                                                                            |
| 2011-12 | August 09, 2012    | 16,010.00                                                                                            |
| 2012-13 | August 08, 2013    | 33,010.00                                                                                            |
| 2013-14 | August 11, 2014    | 52,679.05                                                                                            |
| 2014-15 | August 13, 2015    | 65,896.42                                                                                            |
| 2015-16 | August 11, 2016    | 65,876.04                                                                                            |
| 2016-17 | August 10, 2017    | 30,659.12                                                                                            |
| 2017-18 | August 08, 2018    | 50,000.00 (Includes interim dividend of ₹10,000 crore transferred in March, 2018 to the Government.) |

https://rbi.org.in/scripts/AnnualReportPublications.aspx?Id=990