No windfall

The govt's focus should be on wise use of RBI's one-time bonus

One of the biggest sources of friction between the Union government and the Reserve Bank of India (RBI) is history now, with the latter accepting the recommendations of the expert committee, constituted under the chairmanship of former RBI governor Bimal Jalan to review the economic capital framework. The RBI board has decided to transfer Rs 1.76 trillion to the government. This includes about Rs 1.23 trillion of surplus income in 2018-19 and Rs 52,637 crore worth of excess provisions recognised in accordance with the framework recommended by the Jalan committee. Since the central bank has paid an interim dividend of