RBI Governor appears before parliamentary panel

Reserve Bank of India Governor Urjit Patel has appeared before the parliamentary panel on finance in New Delhi on Tuesday. Led by Congress Party leader Veerappa Moily, the panel has summoned Patel to discuss various issues including the amount of cash returned post demonetisation.


As per sources, the RBI Governor was to appear before the Committee on May 17 in the wake of recent banking scams and the issue of non-performing assets.


Sources further claimed that the decision to summon Patel was taken during a Committee meeting held in April, which was attended by former Prime Minister Manmohan Singh and Moily, among others.


A number of banking scams have surfaced in the recent past involving state and private lenders such as Punjab National Bank, ICICI Bank, and so on.

-- ANI