RBI Governor to appear before finance panel to brief on demonetisation

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

By: ANI | New Delhi | Published: January 18, 2017 8:19 am
RBI governor, RBI governor Urjit Patel, Urjit Patel, Demonetisation, Urjit Patel's briefing on demonetisation, Congress leader Veerappa Moily, Reserve Bank of India, note ban, indian express news RBI Governor Urjit Patel (File Photo)

Reserve Bank of India (RBI) 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 government’s demonetisation drive. The secretaries of finance ministry will also appear and brief about demonetisation and its impact.

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Patel has been summoned, days after the United Forum of Reserve Bank Officers and employees wrote a letter to the RBI governor 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”.

“We request the Governor of the RBI, its highest functionary and protector of its autonomy and prestige, to do the needful urgently to do away with this unwarranted interference from the Finance Ministry and assure the staff accordingly as the staff feels humiliated,” the letter said. The finance ministry, however, clarified that the government fully respects the independence and autonomy of the RBI. In a statement, the ministry said that consultations between the Centre and the RBI are undertaken on various matters of public importance, wherever such consultation is mandated by law or has evolved as a practice.

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  1. J
    Jai hind
    Jan 18, 2017 at 4:19 am
    Let's see Whether this guy could give convincing reply for the questions forwarded by PAC .. Most of the questions sounds like the one what cud leave This governer in vague state of mind .
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    1. B
      Bijan Mohanty
      Jan 18, 2017 at 5:50 am
      What the poor fellow shall do ? He has reduced RBI to a rubber stamp for the sake of getting Governor Post and is being used by the PMO officials.
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      1. H
        HR
        Jan 18, 2017 at 7:34 am
        Bharatiya Danga Party wants newly communalized RBI governor to appear before communal panel to explain demonetization hoax, yes Ofcourse but with a small caveat though, with a gun on people's head, after taking all their money and disposing of its own money. That's how BDP roll, so gangsta. PM Modi then wants to jump to a podium and do name calling and mudslinging. Yes Ofcourse but with a small caveat though, he want to do this with his signature bizzare hand gestures. Biggest name calla and biggest mud slinga. He then wants to seize all black money, yes Ofcourse with a small caveat though, he wants to do this by short cut of demonetisation. Biggest hoax pulla. PM Modi then wants to pour cow mutra down people's throat and apply cow gober on people's face for best shade results. He then wants people to buy patanjali product only using digital transaction, yes Ofcourse with a small caveat though, with a gun on people's head.
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        1. I
          INDIAN PEOPLE
          Jan 18, 2017 at 5:14 am
          PARLIAMENT PANNEL ASK URJIT PATEL ASK DUE TO BLACK MONEY STOP 120DEATH. HOW MANY BLACK MONEY COME FROM NORTHERN INDIAN AND DELHI. THE MUST BLACK MONEY HOLDER ARE EITHER DELHI OR NORTHERN INDIA. ARE NOT YOUR PARTY LEADER AND WORKER HAVE THE BLACK MONEY . HOW A PARTY LEADER WORE THE 10LCK TO 15LACK DRESS. THIS IS THE BLACK MONEY. THE MOST BLACK MONEY ARE BJP PARTY LEADER AND WORKER. 50DAYS OVER AND PEOPLE STILL FACE THE MONEY PROBLEM BUSINESS. IS TOTAL DOWN. ACCORDING TO RTI BELOW 50% PRODUCTION JUST 2MONTH DEMONETIZATION. LIST PROVIDE BLACK MONEY HOLDER LIKE NITIN GADKARI, MODI, ARUN GBTECH INDIA, MATRIX HELATH CARE, FACEBOOK, SPARKLING ADSACE. WHAT THE HURRIED FOR BLACK MONEY STOP JUST WIN THE UP EMBLY AND 2017 PRESIDENT ELECTION. GAIN THE RAJYA SABHA SEAT jai hind
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          1. I
            Indian
            Jan 18, 2017 at 6:30 am
            Ban unions in India , for improvement of services . These unions are nothing but obstacle for development. Govt. must ensure each and every labour / employees should get minimum ry /wages. No unions to be allowed.
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