Bimal Jalan Committee was set up to review the economic capital framework of the RBI.  

• Its mandate was to review global best practices followed by the central banks in making assessment and provisions. 
• It has suggested that the framework may be periodically reviewed after every five years. 
• The panel recommended aligning the central bank’s accounting year with the financial year which could reduce the need for paying interim dividend. 

• The panel also suggested a clearer distinction between the two components of economic capital — realized equity and revaluation balances — mainly because of the volatile nature of the revaluation balances. 

Source: Sriram’s Economy