RBI chief likely to appear before Parliamentary panel next month

Reserve Bank of India (RBI) Governor Urjit Patel is likely to be called by the Parliamentary Committee of Finance for a briefing on demonetisation next month, informed sources said on Thursday.

Patel was initially to make his submission to the panel on Thursday. But the panel felt they first needed to interview officials from the Finance Ministry.

Patel is likely to be called on January 18, the sources said.

"It was communicated to the RBI Governor on Wednesday that we will call him later. The committee will interview officials from the Finance Ministry and others first," a member of the panel told IANS.

On Thursday, the panel had interaction with economic experts.

"Next, we will be calling officials from the Finance Ministry and CBDT (Central Board of Direct Taxes)," the member said.

The panel is expected to seek clarity from the RBI on the quantum of money that was in circulation in Rs 500 and Rs 1,000 denomination when the demonetisation was announced on November 8 and the liquidity supplied since then.

--IANS

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