New Delhi: RBI Governor Urjit Patel will brief a parliamentary board about demonetisation and its effect on the economy and the means taken by the national bank to manage the money smash on Wednesday.
In addition, delegates of the Finance Ministry, including from the bureau of Economic Affairs, Financial Services and Revenue will brief the individuals from the Standing Committee on Finance headed by previous Union Minister and senior Congress pioneer Veerappa Moily.
Additionally, delegates of Indian Banks Association (IBA), State Bank of India (SBI), Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC) are planned to be available in the meeting.
The meeting will talk about the "demonetisation of Indian cash notes of Rs 500 and Rs 1,000 and the effect thereof".
The RBI Governor is additionally booked to show up before the Public Accounts Committee of Parliament on a similar issue on January 20.
In an unexpected proceed onward November 8, Prime Minister Narendra Modi had declared the demonetisation of old Rs 500 and Rs 1,000 notes.
Taking after the choice, the RBI had put confinements on withdrawal of money from ATMs and also from banks to manage deficiency of new high division cash notes. This prompted to long lines at ATMs and bank offices.
The money circumstance has enhanced bit by bit with supply of new Rs 500 and Rs 2,000 notes. Recently, the RBI expanded the day by day withdrawal restrain from ATMs to Rs 10,000, however it kept the week by week roof at Rs 24,000.
Everywhere throughout the nation, the banks needed to manage immense surge of individuals who thronged their branches to store the trashed notes. The due date for storing old notes with banks finished on December 30.