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June 25, Sunday 2017 10:46 PM       

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       Urjit Patel to appear before Par panel on July 6
 
         Posted on :16:35:25 Jun 9, 2017
   
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       Last edited on:16:35:25 Jun 9, 2017
         Tags: Urjit Patel to appear before Par panel on Jul
 

NEW DELHI: RBI governor Urjit Patel will on July 6 appear before a parliamentary panel which has called him for the fourth time to discuss the demonetisation move.

On the previous two occasions, the central bank governor sought exemption saying that he was occupied with the monetary policy.

The Standing Committee on Finance, headed by Congress MP Verappa Moily, had questioned Patel once -- on January 18 -- on the move to ban Rs. 500 and Rs. 1,000 denomination notes.

"Patel has been asked to appear again before the panel on July 6 to brief the members about demonetisation as discussion on it is yet to be concluded," a member in the panel said.

The Committee had also called top finance ministry and RBI officials in January to discuss the impact of demonetisation.

As members could not complete their questions, the committee had decided to call the RBI governor and ministry officials again on a later date, after the Budget session.

Sources said that the members in the panel are likely to ask Patel about how much money has come back into the system.

The members will also enquire on when bank operations will be "normal."

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       BUSINESS
Next Article: RBI directs bank branches to comply with PPO order
 
 
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