ProMASS: Jan 18, 2017: RBI Governor Urjit Patel today appeared before the Parliamentary Standing Committee on Finance. He formally talked about prevailing situation after PM Modi’s demonetization drive.The committee is headed by Congress leader Veerappa Moily.
Unconfirmed reports suggest, RBI Governor is believed to have informed the committee that 9.2 lakh crore rupees in new currency had been introduced in the system after the demonetization decision.
Sources said RBI Governor did not disclose how much money has come back to the banks and when the system will be normalized. Notably, Patel has also been summoned by the Public Accounts Committee (PAC) headed by Congress MP K V Thomas on Friday on the same issue.
