when and for what purpose Bimal Jalan committee form
Answers
The six-member committee was formed under former RBI Governor Bimal Jalan on December 26, 2018, to review the economic capital framework (ECF) for the central bank.
Bimal Jalan Commitee is an official committee established by the Reserve Bank of India(RBI) constituting of various professional and expert members of the RBI on December 26, 2018.
Explanation:
The Bimal Jalan Committee is an official financial committee established by the RBI in 2019 which comprises of various expert and professional member of the RBI,with the primary objective to scrutinize and revamp the ineffective and backdated capital framework of RBI.The committee is named after the main head or chairperson,Mr.Bimal Jalan.Some of the important recommendations of the committee based on the official report presented include creating proper distinction between realized equity and revaluation balances,better usage of realized equity in various risk management activities,utilizing the revaluation balances as back up against any potential market or financial risks,improvement in the entire risk buffer and risk management system of RBI and so forth.