PAC summons Urjit Patel: The Public Accounts committee (PAC) is probing into the demonetisation policy of the Modi-led government and a list of various questions regarding the issue has been sent by the committee to the Reserve Bank of India Governor Urjit Patel. The committee has further asked the RBI Governor to summon before it on January 20 for the probe.
PAC summons Urjit Patel for its probe into the demonetisation move
PAC has asked Patel to present before it, the details on how the government led to the decision and why it deemed it necessary. Also, its impact on the country’s economy is an answer much sought after by the committee.
Furthermore, Urjit Patel has also been asked to refurbish the details on the total amount of demonetised currency deposited in the banks since the enforcement of demonetisation of old currency.
“We had decided to call the RBI governor sometime in December but because the Prime Minister had asked for 50 days, we decided to postpone it to sometime January…We did not want to give it a political colour”, PAC Chairman and a senior Congress member K V Thomas told Reuters.
The RBI officials will be asked to answer the queries regarding the undisclosed details about the demonetisation policy and the new notes. The officials can answer the questions later in writing as well.
The meeting to be held on January 20 will also be attended by the Economic Affairs Secretary Shaktikanta Das and the Finance Secretary Ashok Lavasa.