RBI governor likely to make submission on demonetisation before parliamentary panel on Jan 18

Urjit Patel was initially to make his submission to the panel on Thursday

Indo Asian News Service|Dec 22, 2016, 17:54:25 IST

New Delhi: The Reserve Bank of India (RBI) Governor Urjit Patel is likely to be called by the Parliamentary Committee of Finance for a briefing on demonetisation next month, informed sources said on Thursday.Patel was initially to make his submission to the panel on Thursday. But the panel felt they first needed to interview officials from the Finance Ministry.[caption id="attachment_2968016" align="alignleft" width="380"]

RBI governor Urjit Patel. Reuters[/caption]Patel is likely to be called on 18 January, the sources said."It was communicated to the RBI Governor on Wednesday that we will call him later. The committee will interview officials from the Finance Ministry and others first," a member of the panel told IANS.On Thursday, the panel had interaction with economic experts.

"Next, we will be calling officials from the Finance Ministry and CBDT (Central Board of Direct Taxes)," the member said.The panel is expected to seek clarity from the RBI on the quantum of money that was in circulation in Rs 500 and Rs 1,000 denomination when the demonetisation was announced on 8 November and the liquidity supplied since then.

South Korea economy grows faster than expected in Q2 as chip exports power recovery

South Korea’s economy grew 0.6% in the second quarter, beating expectations as strong semiconductor exports offset weakness in construction investment and domestic demand

2 min read

India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

RBI says industrial and services activity stayed resilient through June, while strong trade, stable external sector and improving foreign investment continue to support economic growth.

1 min read

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Prolonged US-Iran conflict could fuel inflation, push up borrowing costs and deepen debt distress across developing economies, says Indermit Gill

2 min read

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

Rising US-Iran tensions and tight OPEC+ supply have pushed crude to a five-week high, but experts believe prices are unlikely to sustain a rally beyond $100 without a major supply disruption.

1 min read

UK inflation cools further to 2.6% in June as transport and food prices ease

Softer price growth in transport and food categories helps push headline inflation lower, while core inflation remains sticky.

1 min read

Up Next

RBI governor likely to make submission on demonetisation before parliamentary panel on Jan 18

Tags

South Korea economy grows faster than expected in Q2 as chip exports power recovery

India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

UK inflation cools further to 2.6% in June as transport and food prices ease