Manmohan Singh comes to rescue of RBI Guv, says he should not be put to odd questions

During the hearing, Manmohan Singh said that the central bank and the RBI Governor's position as an institution should be respected.

New Delhi: Former Prime Minister Manmohan Singh, one of the members of Parliamentary Standing Committee on Finance, on Wednesday came to rescue of RBI Governor Urjit Patel.

Urjit Patel, who along with other RBI and finance ministry officials appeared before the Parliamentary Standing Committee on Finance, was put to some tough questions by members.

During the hearing, Manmohan Singh said that the central bank and the Governor's position as an institution should be respected.

He should not be put to odd questions, Singh, who himself was RBI Governor once, is believed to have told the Committee.

Singh is understood to have told Patel that he need not answer a question put by one of the members relating to non-removal of cash withdrawal restrictions.

The RBI Governor is also scheduled to appear before the Public Accounts Committee of Parliament on the same issue on January 20.

In a surprise move on November 8, Prime Minister Narendra Modi had announced demonetisation of old Rs 500 and Rs 1,000 notes.

Following the decision, the RBI had put restrictions on withdrawal of cash from ATMs as well as from banks to deal with shortage of new high denomination currency notes. This led to long queues at ATMs and bank branches.

With PTI Inputs