Reserve Bank India governor Urjit Patel is learnt to have informed the Public Accounts Committee (PAC) that the cash situation will ‘normalise, soon. Urijit Patel was answering questions about the demonetisation drive and subsequent cash crunch that engulfed India. RBI Governor Urjit Patel along with Deputy Governor R Gandhi and other senior functionaries appeared before PAC for oral evidence on ‘Review of Monetary Policy’. Sources said that Urjit Patel was also asked whether there is any apprehension about the government interfering with the central bank’s functioning. He further said that the RBI Governor could be called again if required after February 10.

Source: Hindustan Times January 20, 2017 13:33 UTC