Reserve Bank Governor Urjit Patel likely to appear before finance panel today

Reserve Bank of India (RBI) Governor Urjit Patel is slated to appear before the Parliamentary panel on Wednesday in order to provide clarification on an array of queries related to demonetization.
Reserve Bank of India (RBI) Governor Urjit Patel is slated to appear before the Parliamentary panel on Wednesday in order to provide clarification on an array of queries related to demonetization.

New Delhi, Jan 18: Reserve Bank of India Governor Urjit Patel is likely to appear before the Standing Committee on Finance on Wednesday.

The committee, headed by former Union minister and senior Congress leader Veerappa Moily, has called Patel to brief the panel about governments demonetisation drive.

The secretaries of finance ministry will also appear and brief about demonetisation and its impact.

Patel has been summoned, days after the United Forum of Reserve Bank Officers and employees wrote a letter to him alleging that the image of the central bank has been dented beyond repair post the government’s demonetisation move.

Raising objection to the government ‘impinging on RBI autonomy’ the employee unions of the central bank also asked Patel to take action against the ‘unwarranted interference’.

The finance ministry, however, clarified that the government fully respects the independence and autonomy of the RBI.

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