2 RBI Governor is scheduled to appear before PAC of Parliament on issue of demonetisation on Jan 20. 3 PM Modi had on November 8 announced the demonetisation of old Rs 500 and Rs 1,000 notes. RBI Governor Urjit Patel will brief today a parliamentary panel about demonetisation and its impact on the economy and the steps taken by the central bank to deal with the cash crunch. In a surprise move on November 8, Prime Minister Narendra Modi had announced the demonetisation of old Rs 500 and Rs 1,000 notes. Also read | Demonetisation: Parliament panel may summon PM Modi if RBI's reply not satisfactoryThe cash situation has improved gradually with supply of new Rs 500 and Rs 2,000 notes.

Source: India Today January 18, 2017 02:46 UTC