Urjit summoned for answers again

Amid widespread concern expressed by several members of a Parliamentary panel, in the absence of any credible information from the government on the quantum of funds received by the exchequer post-note ban, RBI governor Urjit Patel is likely to appear before it some time next month.

It is learnt that Manmohan Singh, who is a member of the standing committee of finance, prevailed over the resistance put up by many BJP members of the panel, to summon RBI chief.

The standing committee’s insistence on calling Mr Patel gains significance in the light of the fact that till date, the Centre is yet to come up with the official data on the funds received by it till December 30, which was the last date for exchanging and depositing old currency notes with banks.

This newspaper had exclusively reported that the Centre may reveal the figures after March 31.

According to sources, the panel which is incidentally led by Veerappa Moily, on Thursday met representatives of the industry chambers to discuss various aspects of the economy.

The meeting witnessed a lot of resentment from several members, who wanted to know that how much funds had come in the government’s coffers after December 30, 2016.

Many members, mainly from the opposition, are learnt to have said that in January this year, when the Mr Patel had appeared before the panel to discuss note ban, the discussion could not be completed.