Urjit Patel, governor of the Reserve Bank of India (RBI) (Photographer: Dhiraj Singh/Bloomberg)

RBI Governor Urjit Patel Appears Before Parliamentary Standing Committee On Finance

Reserve Bank of India Governor Urjit Patel appeared before a parliamentary panel to brief on demonetisation and nonperforming assets situation in the public sector banks, among other issues, sources told PTI.

Patel was earlier scheduled to appear before the panel on Nov. 12.

Officials said issues related to November 2016 demonetisation of old Rs 500/1,000 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.

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

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