PA­TEL RAPPED

India Today - - GLASS HOUSE -

RBI gov­er­nor Ur­jit Pa­tel may de­fend him­self ably, but his very ap­pear­ance be­fore the pub­lic ac­counts com­mit­tee (PAC) on Jan­uary 20 will be per­ceived as an ero­sion of the cen­tral bank’s cred­i­bil­ity. Be­fore he faces the PAC, though, Pa­tel has al­ready been sent a list of 10 tough ques­tions, chief among which is, whose decision was it to ban the high-de­nom­i­na­tion 500 and 1000 ru­pee notes. Com­ing as it does just be­fore the bud­get ses­sion and the assem­bly elec­tions, this can only lead to a lot of neg­a­tive play for the govern­ment.

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