The Reserve Bank of India (RBI) has set up an expert committee to suggest how the central bank should handle its reserves and whether it can transfer its surplus to the government. This committee headed by

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Duvvuri Subbarao
B	Bimal Jalan
C	C Rangarajan
D	YV Reddy

Explanation:

Detailed explanation-1: -A technical Committee of the RBI Board headed by Y H Malegam (2013), which reviewed the adequacy of reserves and surplus distribution policy, recommended a higher transfer to the government.

Detailed explanation-2: -The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935.

Detailed explanation-3: -The Expert Committee constituted to review the RBI’s extant ECF, was guided by the principle that the alignment of the objectives of the Government and the RBI is important.

Detailed explanation-4: -As Deputy Governor, Shri Rao will look after Department of Regulation, Department of Communication, Enforcement Department, Inspection Department, Legal Department and Risk Monitoring Department.

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