RBI Governor Urjit Patel Summoned By Parliamentary Panel

| April 17 , 2018 , 18:01 IST

Reserve Bank of India Governor Urjit Patel has been summoned by a Parliamentary panel to answer questions related to the recent scams that have hit the banking sector. He has been asked to appear before it on May 17.

This comes on a day when the news of ATM's running dry across several states has caught the Finance Ministry and the RBI in a spot.

The Standing Committee on Finance, headed by veteran Congress leader M Veerappa Moily on Tuesday, raised several queries related to the banking sector with Financial Services Secretary Rajiv Kumar.

“We have invited the RBI Governor on May 17. We will be asking him about the scams and other banking regulations,” PTI quoted a source.

Former Prime Minister Manmohan Singh, who is a member of the Committee, attended the meeting.

The committee reviewed on the Oral Evidence of the representatives of the Ministry of Finance (Department of Revenue) and Central Board of Excise and Customs (CBEC) on "Working of Automation of Central Excise and Service Tax".

It also had a discussion with the representatives of various associations and unions of employees of Air India Limited on "Turnaround Plan and Financial Restructuring Plan of Air India Limited".

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BJP leaders Rajiv Pratap Rudy, Bandaru Dattatreya and Nishikant Dubey are also part of the standing committee.