The meeting of the central board of the RBI on 19 November is likely to be stormy with the government determined to take up these issues and press for a decisive outcome. The norms for sharing excess capital reserves should be set in line with established global practices, the official added. "A thorny ongoing issue on this front has been that of the rules for surplus transfer from the RBI to the government". As of June 2018, the total amount in these three types of reserves exceeded ₹9 trillion with more than ₹6.9 trillion in valuation reserves, RBI's annual accounts show.
The Act would have to be amended for the RBI to start transferring its surplus from previous years to the government, Malegam told CNBC-TV18 in an interview, as it only provides that all of the central bank's surplus in a year, after provisions, should be transferred.
The government and the RBI have been clashing on several issues including the reserves question.
Garg's tweet came in response to news reports that the government is asking the RBI to transfer a part of its reserve to maintain its fiscal deficit.
"Lot of misinformed speculation is going around in media".
Media reports had said that the government was insisting on a payout from the central bank's reserves to tide over a tight fiscal situation ahead of state polls and general elections in 2019.
"The government stares at a fiscal-deficit crisis. There is no proposal to ask RBI to transfer ₹3.6 or 1 lakh crore, as speculated", he said. This comprises balances in Contingency Fund, Asset Development Fund (ADF), Currency and Gold Revaluation Account (CGRA), Foreign Exchange Forward Contracts Valuation Account (FCVA) and Investment Revaluation Account Rupee Securities (IRA-RS), besides some minor accounts.
Sources say that transfer of surplus reserves also figured in the Economic Survey crafted by former Chief Economic Adviser Arvind Subramanian, who batted for RBI transferring over Rs 4 lakh crore to the government.
A top finance ministry official on Friday put to rest speculation that the Centre was insisting on drawing a larger share of the Reserve Bank of India's reserves than the central bank is willing to part with.
Jim Doyle was in office and Republicans controlled the Assembly with Democrats in charge of the Senate. Republicans now control two-thirds of all legislative chambers and the governor's office in 33 states.
The Suns are no strangers to new beginnings, with Kokoskov the team's fourth head coach since the start of the 2015-16 season. Both teams struggled to hit shots in the first quarter, with field goal percentages of less than 40 both ways.
For women with hypertension of the second degree the risk of heart attacks increased by 152% compared to 71% of the stronger sex. Over an average of seven years, 5,081 people had their first heart attack - just 29 per cent of whom were women.
On the work front, Priyanka is now busy with Shonali Bose's The Sky Is Pink, co-starring Zaira Wasim and Farhan Akhtar. The report has further mentioned that the couple is planning to bring the license with them to India un December.
Ms Hajiyeva's legal team sought to overturn the Unexplained Wealth Order so she could retain ownership of her properties. Mrs Hajiyeva is at the centre of an inquiry by the National Crime Agency into dirty overseas cash.
Gillum's campaign said it's monitoring the situation with an elections lawyer and readying for a possible state-mandated recount. Bush defeated Al Gore by 537 votes in Florida , giving him the edge in the electoral college and handing him the White House.
It said SkyLease's 747 aircraft had the capacity to carry up to 120 tonnes of Nova Scotia seafood to China. The Boeing cargo aircraft dragged its tail before breaking up and bursting into flames in a wooded area.
China National Petroleum Corp (CNPC) said on Friday that it was still taking oil from Iranian fields in which it has stakes. The U.S. crude contract had hit a low of $59.26, down $1.41 and off more than 20 percent since its peak in October.
Disney to commence streaming shows next year
British actor Tom Hiddleston will star in a new Star War prequel series to Rogue One: A Star Wars Story . I can see this one being slightly more niche, given that the character hasn't led a movie by himself.
New Mazda3 teased again: hatch and sedan to debut in LA…
The automaker confirms that the next Mazda3 will sit on the Skyactiv Vehicle Architecture, which should improve driving dynamics. In recent times, Mazda has created some stunning production and concept cars including the Kai , Vision Coupe and updated 6.
Australia level series with nail-biting win in Adelaide
He and Finch knocked up a 50-partnership before Marsh, on 22, got a thick edge off Rabada and de Kock took the catch. Or rather, Australia's batsmen repeatedly found ways to get out, with poor shot selection throughout the top order.
White House Defends Ban on Reporter
The New York Times also noted that Acosta's monologues have led "some of his rival White House reporters" to roll their eyes. She's gets publicity, and then she gets a pay raise and a contract with I think CNN .
Peters to Payton: Keep talking that (expletive)
And I hope to see you soon.' You hear me? He said he was healthy, and that an early-season ankle injury isn't to blame. It might be worth it just to see if Peters and Payton had anything to say to each other after the game.