RBI Governor Urjit Patel appears before parliamentary panel

RBI Governor Urjit Patel on Tuesday, November 27 appeared before a parliamentary panel to brief on demonetisation and NPA situation in the public sector banks, among other issues, sources said. Patel was earlier scheduled to appear before the panel on November 12.

The source said issues related to November 2016 demonetisation of old Rs 500/1000 notes, reforms in the RBI, stressed assets in the banking system, and state of the economy, were listed as agenda items of the 31-member Parliamentary Standing Committee on Finance.

READ: RBI Issues Statement After Day-long Board Meeting, Decides To Constitute Committee To Examine Its Economic Capital Framework

The RBI Governor appeared before the panel days after the central bank's face-off with the finance ministry over issues ranging from the appropriate size of reserves to be maintained by RBI to easing of lending norms for small and medium enterprises.

READ: Ahead Of Crucial RBI Board Meeting, All Eyes On RBI Governor Urjit Patel: 10 Things To Know

Former Prime Minister Manmohan Singh is a member of the committee headed by senior Congress leader and former Union Minister M Veerappa Moily.