Former Reserve Bank of India (RBI) deputy governor Rakesh Mohan on Friday said that six-member Bimal Jalan panel will put out a strong and well-researched report by June-end, which was appointed on December 26, 2018, to review the Economic Capital Framework for the central bank.
In an interview to CNBC-TV18's Latha Venkatesh, Mohan, who is also a member of the capital reserves panel, said, "We have been doing hard work over the last five months since the beginning of January. I am hoping that the next meeting, which is on June 12, will be the last meeting. So, I hope that after that last meeting, I will be free to talk to you on that issue. Until then, it is difficult to talk about it."
He said, "The RBI is a crucial part of maintaining the economic and financial stability of the country. There has been a tendency in the past few years to look at the central bank in an independent sense or in contrast to the government and I do think it is a mistake."