Parliamentary panel likely to finalise report on note ban

RSTV Bureau

The parliamentary panel on finance is likely to finalise its report on demonetisation of high value currency notes on Thursday, sources said.

In its final meeting on demonetisation today, Standing Committee on Finance, headed by senior Congress leader M Veerappa Moily, has called representatives of Nasscom for a presentation on digital payments and officials from Niti Aayog for a presentation on policy related issues, sources said.

Congress Party's Veerappa Moily speaking in Lok Sabha

Congress Party’s Veerappa Moily speaking in Lok Sabha

Earlier this month, Moily had said that the panel would submit its report on demonetisation during the Monsoon Session of Parliament that started on July 17. The session is scheduled to conclude on August 11.

Sources also added that the panel has finalised its report on bad loans and challenges in the banking sector for presentation to Parliament.

The Committee had already taken views of RBI Governor Urjit Patel and senior officials of the finance ministry on the government’s decision to scrap old Rs 500/1000 notes from November 9 last year.

The move had lead to immediate shortage of currency in the system leading to long queues at banks and ATMs all over the country. However, the situation improved after the RBI pumped in new Rs 500 and also Rs 2,000 notes into the system.