The RBI committee was appointed in December 2018 to review Economic Capital Framework (ECF) for central bank to transfer surplus funds to central government.

• The panel was entrusted to review best practices followed by central banks throughout the world in making assessment and provisions for risks.
• The ECF panel was required to submit its report to RBI within 90 days of its first meeting.
• The 1st meeting of ECF took place on 8 January 2019 following which the panel was given a 3 month extension.