Urjit Patel afraid of revealing information on demonetisation, alleges Congress

Taking on Reserve Bank of India (RBI) Governor Urjit Patel for 'dereliction of his duty', the Congress Party on Thursday said the former failed to answer the Parliamentary committee about the demonetisation's aftermath because he was afraid of revealing the information to the panel.

"It shows the unpreparedness on the part of Reserve Bank of India. The RBI Governor appeared before the parliamentary committee and this notice was given to him two weeks back. Not that he do not have the information but he is afraid of revealing it to parliamentary committee which is dereliction of duty on the part of the RBI governor," Congress leader P.C. Chacko told ANI.

Chacko further said that nobody can hold back any information of the parliamentary committee.

"When the question was put to the RBI governor he did not report to the committee that by what time things will be normal, by what time the currency will be made available. Various pertinent questions were put to him by the committee was not answered so it is a question of privilege that he is holding back and not revealing the facts," he added.

Demanding Patel's resignation, the Congress leader said that the former has lost the moral authority to continue as RBI governor and added that the RBI behaved like the junior department of the central government.

"The chairman of central bank is always considered as a very highly independent position because the monetary control of the country is mainly done by the RBI. Such an organisation should be in a position to advice the government on matters and should not take orders from the government," he added.

Members of the Parliamentary Standing Committee on Finance yesterday criticised the RBI Governor for his inability to answer queries related to demonetisation.

Meanwhile, the Congress Party on Wednesday demanded Patel's resignation and submitted a memorandum at the RBI headquarters in Mumbai demanding the same.

Earlier, several Congress workers picketed before 25 Reserve Bank of India (RBI) offices across the country, in protest against demonetisation.