In yet another appearance before the parliamentary panel, the Reserve Bank of India Governor briefed the members on effects of demonetization.
The RBI chief also summarized the parliamentary panel on NPA situation in public sector banks, RBI surplus and the autonomy of RBI as an institution
This is as per sources.
According to sources, Patel said the recent fall in crude oil prices to benefit the economy and will help in containing the current account deficit.
The 31-member Parliamentary Standing Committee on Finance headed by senior Congress leader and former Union Minister M Veerappa Moily.
The panel sought the RBI Governor’s response on various topics including impact of November 2016 demonetisation of old Rs 500/1000 notes on the economy, NPA situation in state-owned banks, RBi surplus and the autonomy of RBI as
Former Prime Minister Manmohan Singh is also a member of the parliamentary panel.>