New Delhi: The country's Supreme Bank, i.e. the Reserve Bank of India Contingency Fund, the emergency fund has decreased. The Reserve Bank maintains this fund to deal with the emergent crisis. According to the Reserve Bank's annual report 2018-19, RBI's emergency fund has come down to Rs 1.96 lakh crore as on June 30, 2019, as against Rs 2.32 lakh crore on June 30, 2018. RBI maintains a contingency fund to deal with emergencies. The fund has come down to a six-year low after transferring additional funds to the government.
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According to RBI's annual report 2018-19, RBI had decided to transfer to the Additional Reserve Government based on the recommendations of the Jalan Committee regarding the Economic Capital Framework. However, the Reserve Bank has clearly stated in its annual report that as of June 30, 2019, RBI's strength is strong.
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It is noteworthy that after accepting the recommendations of Jalan Committee, RBI has decided to transfer Rs. 1 lakh crore to the government in the current financial year, which has a dividend of Rs. 1.23 lakh crore and an additional reserve amount of Rs. 52,000 crore. The GDP growth estimate for the year has been reduced to 6.9 %.
RBI acknowledged that it is difficult to find merge of the real problem of this slowness. However, RBI has suggested measures to increase private investment and consumption. RBI's emergency fund has come down to Rs 1.96 lakh crore as on June 30, 2019, as against Rs 2.32 lakh crore on June 30, 2018.
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