A crucial meeting of Parliament’s standing committee on finance over the demonetisation issue began in New Delhi on Monday morning with Reserve Bank of India Governor Urjit Patel expected to brief it on the matter. Senior bureaucrats, including Department of Economic Affairs Secretary Shaktikant Das, Banking Secretary Anjuly Chib Duggal and Revenue Secretary Hasmukh Adhia, and top bank honchos like Chanda Kochhar of ICICI Bank and Usha Ananthasubramanian of Punjab National Bank are also to appear before the committee headed by Congress leader Veerappa Moily.
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Former Prime Minister Manmohan Singh is one of its members. Patel will brief the parliamentary panel about demonetisation and its impact on the economy and the steps taken by the central bank to deal with the cash crunch post withdrawal of Rs 500 and Rs 1,000 notes. The meeting will discuss the “demonetisation of Indian currency notes of Rs 500 and Rs 1,000 and the impact thereof”. The RBI Governor is also scheduled to appear before the Public Accounts Committee of Parliament on the same issue on January 20.