Demonetisation: RBI governor Urjit Patel to brief parliamentary committee on Dec 22

New Delhi: Reserve Bank Governor Urjit Patel will on 22 December brief the Parliamentary Committee on Finance about the demonetisation process and its impact.

"Briefing by the Governor, RBI, on the subject 'Demonetisation of Indian currency notes of Rs 500 and Rs 1000 and the impact thereof,'" said a schedule posted on the Parliament website.

 Demonetisation: RBI governor Urjit Patel to brief parliamentary committee on Dec 22

RBI Governor Urjit Patel

The briefing will start at 11 AM at the Parliament annexe building on Thursday.

Since banning of old Rs 500 and Rs 1000 notes on 8 November, government has taken a host of measures like service tax sops and incentives for making digital payments to ease out problems arising out of less currency being available in the market.

The move has led to wiping out of almost 86 percent of the currency which was present in cash before 8 November, in the form of Rs 500/1000 notes.

The RBI and government have been assuring the common people regularly that there is enough cash that has been pumped back into the system.

The Reserve Bank of India last week said that Rs 12.44 lakh crore in demonetised notes have been collected at banks.

Also, banks have issued Rs 4.61 lakh crore to the public since 8-9 November through ATMs and bank counters, it said.

"The RBI has issued 21.8 billion pieces of banknotes of various denominations since demonetisation," deputy governor R Gandhi said.

Your guide to the latest cricket World Cup stories, analysis, reports, opinions, live updates and scores on Follow us on Twitter and Instagram or like our Facebook page for updates throughout the ongoing event in England and Wales.

Updated Date: Dec 19, 2016 09:58:12 IST