Reserve Bank of India (RBI) Governor Urijit Panel will have to appear before a parliamentary panel to respond to queries on a spate of banking scams which have been unearthed in the last few months. According to reports, the Standing Committee on Finance which is headed by Congress leader M Veerappa Moily has asked Patel to appear before it on May 17.
The committee on Tuesday raised several questions linked to the banking before Financial Services Secretary Rajiv Kumar.
Sources added that former Prime Minister Manmohan Singh, who is a member of the committee, is also likely to attend the May 17 meeting.
Urijit Patel had recently said that the RBI doesn't have adequate powers to deal with pubic sector banks.
"We would like to know what kind of powers the RBI Governor needs," another source said, adding that regulation is an important part and that is why the Governor has been called.
The panel, sources said, discussed a spate of banking scams, both in public and private sector banks.
When asked if PNB and ICICI Bank issues figured during the meeting, the source said issues related with "all commercial banks, including ICICI Bank" were discussed.
The finance ministry officials gave part replies to queries of the lawmakers and they have been given three weeks time to file a complete report on questions.