Bimal Jalan to head RBI panel on economic capital framework

The Reserve Bank of India has set up an expert committee to review the economic capital framework of the central bank. Former RBI Governor Bimal Jalan will head the panel, which will decide whether RBI is holding reserves and buffers in surplus or deficit of the required levels. RBI's core reserve is only around 7% of its total assets, the rest of it is largely in revaluation reserves which fluctuate with changes in currency and gold value.