Urjit Patel to appear before Parliamentary panel on note ban today

Urjit Patel to appear before Parliamentary panel on note ban today

New Delhi: Reserve Bank of India Governor Urjit Patel is today scheduled to appear before the Parliamentary committee looking into the note ban. The RBI representative will give ''evidence on the subject of demonetization and transformation towards digital economy and banking sector in India—Challenges and the way forward, '' said in a post on its website today. The committee will meet at Parliament annexe at 1500 hrs. Mr Patel is to give clarifications sought by the Parliamentary panel on the note ban that was announced on the evening of November 8, 2016 and came into force from the midnight the same day. Demonetisation of Rs 500 and Rs 1,000 notes was introduced as part of Prime Minister Narendra Modi's measures to curb generation of black money and root out corruption. The RBI Governor was earlier questioned on January 18 by the Standing Committee on Finance headed by Congress MP Veerappa Moily.

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