RBI govenor Urjit Patel appears before Parliamentary panel to brief on demonetisation, NPA situation in public sector banks
RBI Governor Urjit Patel on Tuesday appeared before a Parliamentary panel to brief on demonetisation and NPA situation in the public sector banks, among other issues
New Delhi: RBI Governor Urjit Patel on Tuesday appeared before a Parliamentary panel to brief on demonetisation and NPA situation in the public sector banks, among other issues, sources said.
Patel was earlier scheduled to appear before the panel on 12 November.
Source said issues related to November 2016 demonetisation of old Rs 500/1000 notes, reforms in the RBI, stressed assets in the banking system, and state of the economy, were listed as agenda items of the 31-member Parliamentary Standing Committee on Finance.
The RBI Governor appeared before the panel days after the central bank's face-off with the finance ministry over issues ranging from the appropriate size of reserves to be maintained by RBI to easing of lending norms for small and medium enterprises.
Former Prime Minister Manmohan Singh is a member of the committee headed by senior Congress leader and former Union Minister M Veerappa Moily.
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The amount will be borrowed by the Centre under the Special Window in appropriate tranches and will be passed on to states in back-to back loans, said a finance ministry statement. However, it did not say who will service the interest and principal payments
The scheme will be available irrespective of whether moratorium was availed or not, and will cover housing loans, education loans, credit card dues, auto loans, MSME loans, consumer durable loans and consumption loans