PAC can call PM on cash ban if RBI’s reply not satisfactory

The Public Accounts Committee (PAC) of Parliament can call Prime Minister Narendra Modi on the issue of demonetisation if it is not satisfied with the answers given by top finance ministry officials and the RBI Governor Urjit Patel, to whom a detailed questionnaire has been sent.

A PAC meeting on this issue has been called on January 20th, in which the RBI Governor Urjit Patel, Finance Secretary Ashok Lavasa and Economic Affairs Secretary Shaktikanta Das will be present. “We have not yet received answers for the questions we have sent to them. They will reply few days before the January 20th meeting. Their replies will be discussed in detail,” PAC Chairman and senior Congress leader K V Thomas told media.

Asked if the PAC would call the Prime Minister if replies were not satisfactory, he said: “The committee has all right to call anybody involved in the matter. But that will depend on the outcome of the January 20th meeting. We can call PM on demonetisation issue if members unanimously decide.” 

In a meeting with the PM after demonetisation announcement made on November 8, Thomas said, “I had met him and he said that the situation will be normal after 50 days by December-end. But it does not looks like.” So, PAC decided to call the top officials involved in the decision making process this month, he said, adding that the demonetisation has impacted the country’s economy.

“The PM is misleading the country to satisfy his ego. He is trying to justify his wrong decisions. He has done in a callous manner by introducing Rs 2,000 notes,” he said.