A high-level committee set up by the Reserve Bank of India (RBI) on its Economic Capital Framework (ECF) has recommended that surplus reserves held by the central bank be transferred to the government in tranches over three to five years, according to published reports.

Centre may use RBI surplus to tackle fiscal deficit 

The crucial central board meeting of the Reserve Bank is underway Friday morning to discuss contentious issues including a new economic capital framework (ECF) for the central bank and relaxation in the prompt corrective action norms for at least some of 12 state-run banks.

RBI board meeting gets underway

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Centre may use RBI surplus to tackle fiscal deficit

RBI board meeting gets underway