RBI Governor Urjit Patel appeared before Parliamentary Standing Committee on Finance today. Patel briefed and give bank’s opinion on demonetization, non-performing assets (NPA) of public sector banks, RBI surplus and the autonomy of RBI as an institution and all other the issue.
Earlier Patel was scheduled to appear before the court on 12 November. The RBI governor appeared before the panel days after the face of with the bank and government was came to a temporary ceasefire. The government and the apex bank was on different shores on the issues of appropriate size of reserves maintained by RBI to easing of lending loans to medium and small enterprises.
The Committee headed by senior Congress leader M. Veerappa Moily has earlier asked the governor of apex bank to appear. Former Prime Minister Man Mohan Singh is also a member of the 31 member committee.
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