Reserve Bank of India, Centre tiff set to escalate
Sources added Mr Patel recently sent a missive to the committee indicating that owing to his busy schedule
New Delhi: The ongoing stand-off between the Centre and the Reserve Bank of India (RBI) could delay a high-profile parliamentary panel’s report on a legislation which provides for a mechanism to ban unregulated deposit schemes, as Central bank’s Governor Urjit Patel has expressed his inability to present himself before the committee, on November 12.
Highly-placed sources told this newspaper that owing to Mr Patel’s absence, the scheduled sitting of the Parliamentary Standing Committee on Finance next week, has been postponed.
This could delay the process of the committee finalising its report on the ‘Banning of Unregulated Deposit Schemes Bill, 2018’.
Soon after the Bill was introduced in the Lok Sabha in July this year during the Monsoon Session, it was referred to the Parliamentary panel, which was scheduled to prepare its final report on the legislation within three months — mainly before the Winter Session of Parliament.
Sources added Mr Patel recently sent a missive to the committee indicating that owing to his “busy schedule”, he won’t be able to present himself before it on November 12.
In the scheduled meeting, the panel had summoned the RBI Governor to discuss the pending legislation.