Demonetisation: Manmohan Singh questions House panel if Reserve Bank was given enough time to discuss note ban

Written by | December 23, 2016 | 0

New Delhi: Former Prime Minister Manmohan Singh during a meeting of the Parliamentary Committee on Finance on Thursday asked whether the Reserve Bank of India was given enough time to discuss the demonetisation move of the Government which was implemented on November 8. As reported in The Indian Express, Singh also suggested to the panel to call government officials to testify before hearing RBI Governor Urjit Patel.

The panel discussed the issue of demonetisation in the presence of independent experts like economists Rajiv Kumar and Mahesh Vyas, former chief statistician Pronab Sen and Kavita Rao of National Institute of Public Finance and Policy. The IE report said that sources claim these experts were called to offer their views on the panel and three of the experts were critical of the demonetisation scheme.

A panel member who attended the meeting told them that they were discussing the timing when RBI governor should appear to brief the panel. Manmohan Singh reportedly said that a note from the Reserve Bank claimed that the Government took the decision on November 7 and the RBI board speculated the decision on November 8.

According to the report, Urjit Patel will brief the panel on January 18 or 19, prior to which the Government officials will be asked to testify on January 11 or 12. The government officials will mostly be from the finance ministry.

Filed in: National

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