Urjit Patel had earlier said that the RBI doesn’t have adequate powers to deal with public sector banks.
A parliamentary standing committee has summoned the governor of Reserve Bank of India Urjit Patel to appear before it. This has come in the light of a series of bank scams that have hit the country. A parliamentary standing committee on Finance led by veteran Congress Leader M Veerappa Moily has asked Urjit Patel to appear on May 17 before it.
Responding to the bank scams questions, Patel had earlier said that the RBI doesn’t have adequate powers to deal with public sector banks. According to a source, the committee wants to know “what kind of powers the RBI Governor needs”. The panel also discussed a spate of banking scams, both in public and private sector banks. The meeting was also attended by Former Prime Minister Manmohan Singh.
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