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RBI Governor Urjit Patel appears before Parliamentary committee

New Delhi | Reserve Bank of India governor Urjit Patel on Tuesday appeared before the parliamentary committee on finance and briefed them on the current bank crisis. The RBI governor faced tough questions on the Nirav Modi scam when he appeared before the committee on finance headed by Congress’s Veerappa Moily, which includes leaders from several parties besides former Prime Minister Manmohan Singh.

According to sources, senior parliamentarian questioned Urjit Patel how Nirav Modi managed his illegal transactions for several years “despite the RBI’s supervisory norms”. Mr. Patel was also asked who was accountable for the failure.

How were fake LoUs (Letters of Undertaking) going around for several years and why did the RBI fail to notice, Mr. Patel was asked by MPs. “Why didn’t RBI check the credentials? RBI has powers to check and investigate every branch anywhere. Why didn’t it use the power?” the RBI chief was asked by a senior parliamentarian.

The RBI head was also questioned on the impact of demonetisation and bad loans, specifically the Rs. 13,000 crore-PNB fraud. The Panel further asked Patel, the scale of the PNB (Punjab National Bank) scam that took place despite the Reserve Bank of India’s checks and balances and raised questions on the quality of monitoring.

 

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Atal Bihari Vajpayee to be hospitalized until ‘Infection Is Controlled’: AIIMS

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New Delhi | Former Prime Minister and veteran BJP Leader Atal Bihari Vajpayee health is stable and on injectable antibiotics, said his latest medical bulletin.

According to doctors, he is going through a series of medical tests at Delhi’s AIIMS and will remain in the hospital for the treatment of a urinary tract infection.

In a released statement, the AIIMS doctors stated that Vajpayee will continue to be in hospital till the infection is controlled. According to sources, the doctors want to carry out tests that they say have not been done for the past two years before. Mr Vajpayee is allowed to go home. Vajpayee is in the VIP coronary care unit, sources added.

BJP on Monday said that “He was admitted to hospital “for a routine check-up and investigations.” Various leaders including Prime Minister Narendra Modi and Congress president Rahul Gandhi have called on the veteran politician in the hospital and also met with his family members.

The treatment is being monitored by Randeep Guleria, the director of AIIMS or All India Institute of Medical Sciences and the doctor who was the former prime minister’s personal physician for over three decades.

 

 

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