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Parl panel may quiz Urjit Patel on RBI's stand-off with govt on Nov 27

Tensions between the central bank and the government have escalated recently, with the Finance Ministry initiating discussions under the never-used-before Section 7 of the RBI Act

Press Trust of India  |  New Delhi 

Urjit Patel
Urjit Patel, RBI Governor

is scheduled to appear before a parliamentary panel on November 27 to brief it on various issues, including the stand-off with the government, status of the economy and demonetisation, sources said.

The 31-member Parliamentary Standing Committee on Finance, which includes former Prime Minister Manmohan Singh, is headed by senior Veerappa Moily.

When contacted, Moily confirmed that Patel will appear before it on November 27.

"The will brief the panel on the status of the economy, reforms in the central and demonetisation," Moily said.

However, sources said members will also raise the issue of the recent stand-off between the RBI and the government.

Tensions between the central and the government have escalated recently, with the Ministry initiating discussions under the never-used-before Section 7 of the RBI Act which empowers the government to issue directions to the

Patel was earlier scheduled to appear before the panel on November 12.

Earlier, Moily had said members wanted some more information on demonetisation, especially its impact.

He said this was perhaps for the first time when an RBI governor has been called by a panel thrice on the same issue.

Prior to this, Patel had briefed the members on demonetisation in January and July last year.

The panel could not adopt a draft report on note-ban in August 2018 as BJP MPs in the panel, led by Nishikant Dubey, stalled the process.

However, Moily has repeatedly said no report on demonetisation was drafted.

So far, the panel has adopted more than 60 reports on various issues unanimously.

The government had scrapped Rs 500 and Rs 1,000 notes on November 8, 2016.

First Published: Fri, November 16 2018. 20:55 IST
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