Reserve Bank of India (RBI) Governor Urjit Patel has appeared before the parliamentary panel on finance here on Tuesday.
Led by Congress Party leader Veerappa Moily, the panel has summoned Patel to discuss various issues including the amount of cash returned post demonetisation, the PNB fraud and the mounting bad loans of banks.
The panel has members from various political parties, including former Prime Minister Manmohan Singh.
In his last appearance before the panel, Patel was also questioned on loan restructuring programmes, which lead to ever greening of loans, and resolution of defaults under the Insolvency and Bankruptcy Code, sources said.
BJP MP Nishikant Dubey had questioned on the RBI’s schemes like Corporate Debt Restructuring, Sustainable Structuring of Stressed Assets or S4A and Strategic Debt Restructuring, saying that instead of checking loan defaults they resulted in more NPAs.
A number of banking scams have surfaced in the recent past involving state and private lenders such as Punjab National Bank (PNB), ICICI Bank, and so on.