Motilal Oswal
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Motilal Oswal
Economy

No proposal to ask RBI to transfer reserves, says economic affairs secretary

Updated : November 12, 2018 06:57 AM IST

He said the government's fiscal math "is completely on track" and dismissed media reports earlier this week that it was seeking Rs 360,000 crore ($49.51 billion) from the Reserve Bank of India's reserves.
Garg added that the only proposal concerning the reserves that the government was discussing was to fix the appropriate economic capital framework of the RBI.
The government and the RBI have been clashing on several issues including the reserves question, and a government proposal to ease the capital and lending curbs for state-run banks.
No proposal to ask RBI to transfer reserves, says economic affairs secretary
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