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Parliamentary panel calls RBI Governor Urjit Patel on note ban issue

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Reserve Bank of India, Governor, Urjit Patel has been asked by a Parliamentary panel to appear before it again on May 25 over demonetisation issue.

Sources said in New Delhi that the Parliamentary Standing Committee on Finance has decided to call RBI Governor and ministry officials again to appear before it to brief the members about demonetisation as discussion on it is yet to be concluded.

The Committee headed by former Union Minister and senior Congress leader M Veerappa Moily had in January also called finance ministry officials besides top RBI officials to discuss the demonetisation of currency notes of Rs 500 and Rs 1,000 and the impact thereof.

Meanwhile, the 15-member committee on subordinate legislation, headed by T Subbarami Reddya has sought details from the Reserve Bank about the post-demonetisation scenario, including the quantum of banned notes deposited so far and also the black money that has come back to the system.

The committee asked details about the quantum of banned notes returned to the system, details about fake notes and the quantum of black money come back to the system, post demonetisation in its meeting with RBI officials and bankers in Mumbai yesterday.

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