Parliamentary panel may call PM Modi if RBI reply is not reasonable

PAC of Parliament may call PM Modi on the issue of demonetization if it is not contented with the answers given by top finance ministry officials and the RBI governor Urjit Patel.

The committee had sent a complete questionnaire to Patel regarding demonetisation.

A PAC meeting on this issue has been called on January 20th, in which Patel, finance secretary Ashok Lavasa and economic affairs secretary Shaktikanta Das will be present.

PAC then decided to call the top officials involved in the decision-making process this month, he said, adding that the demonetisation has impacted the country’s economy.

Among key questions sought are — who were involved in the decision-making, how much money has come back into banks after demonetisation, is there a law that can restrict people’s access their money, how much money has been pumped back into the system, if black money issue has been addressed and the impact on the economy and poor.

The PAC analyses the reports of the Comptroller and Auditor General (CAG), takes suo motu note of the important matters.