RBI governor Urjit Patel to explain Note ban to Parliament panel

As reports say Parliament panel will grill RBI Governor Urjit Patel to explain on Note Ban when he appears before the parliament standing committee as it is not satisfied with the documents presented by Finance Ministry and RBI. They also said they would like to know how many new currency notes were printed and also about the cash supply situation. Some of the members said they would like to know about the impact of note ban on Industrial production, agriculture and resultant job losses." The reports showed an increase of 76.4% in the supply of fake Rs 500 notes and 104% in fake Rs 1000 notes than the last 5 years. " say the sources.