PAC says it can summon PM Modi on demonetisation if RBI Governor’s reply is found not satisfactory

January,9,2017:

RBI Governor Urjit Patel, the Finance Secretary Ashok Lavasa and the Economic Affairs Secretary Shaktikanta Das will answers for the questions raised by PAC.

Public Accounts Committee (PAC) of the Parliament can call PM Narendra Modi on the issue of demonetisation if it is not satisfied with answers given it by the top Finance Ministry officials and RBI Governor Urjit Patel, to whom a detailed questionnaire has been sent.

PAC meeting on this issue has been called on the January 20th,2017 in which RBI Governor Urjit Patel, Finance Secretary Ashok Lavasa and the Economic Affairs Secretary Shaktikanta Das would be present.

PAC Chairman and senior Congress leader K V Thomas  stated that,“We have not yet received answers for the questions we have sent to them".

If PAC would call the Prime Minister if replies were not satisfactory, he added  that, “Committee has all right to call anybody involved in this matter. But that would depend on outcome of the January 20th meeting. We can call PM on the demonetisation issue if the members unanimously decide.”

Among the key questions sought are, Who were involved in decision-making?, How much money has come back into the banks after demonetisation?, Is there any law that can restrict people’s access to their money?, How much money has been pumped back into the system?, Whether the black money issue has been addressed and The impact on the economy and the poor?.

PAC, which scrutinizes reports of Comptroller and Auditor General (CAG), takes suo motu note of the important matters.

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