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Saturday, 10 June 2017

RBI Governor to appear before House panel on July 6


RBI Governor Urjit Patel will appear before a Parliamentary panel on July 6 during which he is expected to be questioned about total deposits made in banks post government’s demonetisation move. This is the fourth time Patel has been summoned by the Parliamentary Standing Committee (PSC) on Finance, headed by Congress MP and former Union Minister Veerappa Moily.

The RBI’s Monetary Policy Committee held its two-day policy meet recently. Patel has been called after former Prime Minister Manmohan Singh, also in the panel, insisted on calling the RBI Governor despite strong opposition by BJP members in the PSC.

Static Takeaways from above News-
  • The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934
  • Urjit Patel is the 24th Governor of RBI.
  • Sir Osborne Smith was the first Governor of the Reserve Bank.
Source- The Hindu Business Line

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