Millennium Post

RBI guv Patel's date with House panel on July 6

RBI governor Urjit Patel will appear before a parliamentary panel on July 6 during which he is expected to be questioned about total deposits made in banks post government's demonetisation move.

This is the fourth time Patel has been summoned by the Parliamentary Standing Committee (PSC) on Finance, headed by Congress MP and former Union Minister Veerappa Moily. Patel had appeared before the panel on January 18, but sought exemption from appearance on two subsequent occasions, saying he was busy with the monetary policy review.

The RBI's Monetary Policy Committee held its two-day policy meet on June 6-7. Patel has been called after former Prime Minister Manmohan Singh, also in the panel, insisted on calling the RBI Governor despite strong opposition by BJP members in the PSC. Interestingly, it was Singh who had come to rescue of Patel in the committee's meeting in January when few members tried to grill him.

"Patel has been asked to appear again before the panel on July 6 to brief the members of the PSC looking into the demonetisation decision," a member in the panel said.
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