RBI Guv to appear before parl panel; to brief about bank NPAs

Amid speculations on bank debts, the RBI Governor Urjit Patel is all set to appear before a parliamentary panel on June 12.

The panel also has former prime minister Manmohan Singh as a member.

Patel at the briefing will talk about the banking frauds and mounting non-performing assets (NPAs).

Patel will talk about the conditions of nationalized banks in view of rising NPAs and the future course of action to tackle bank frauds.

It may be mentioned that the Parliamentary Standing Committee on Finance is headed by senior Congress leader Veerappa Moily and has members from almost all major political parties.

Members of the panel said the governor of the central bank will also answer queries on a spate of banking scams unearthed in the last few months.

Patel had recently said that the Reserve Bank of India (RBI) did not have adequate powers to deal with public sector banks.

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