Our Correspondent /
RBI Governor Urjit Patel today appeared before the Public Accounts Committee and briefed the panel about government’s recent decision to demonetise high value currency. The committee is headed by Congress MP K V Thomas.
According to sources, Mr Patel has assured the committee that cash situation will be normalised soon.
On Wednesday, Mr Patel had appeared before the Parliamentary Standing Committee on Finance and briefed about the decision to demonetise high value currency and the impact on note ban.
Mr Patel had informed the committee that 9.2 lakh crore rupees, in new currency has been introduced in the system after the decision.
Many members put their questions chiefly concerning the poor banking facilities in rural India and far-flung areas like in north eastern states,” a member of the panel said.
In his deposition, RBI chief giving his explanation to the Public Accounts Committee (PAC) that comprises members from both Lok Sabha and Rajya Sabha and assured them that the cash situation will normalise soon. “The RBI Governor has tried to assure the committee that things will be normalised soon.