House panel may summon PM Modi on note ban issue and ask these questions

New Delhi: Prime Minister Narendra Modi may have to meet the Public Accounts Committee (PAC) of Parliament on the issue of demonetisation if the panel decides that the explanations given by top finance ministry officials and the RBI Governor Urjit Patel are are inadequate.

The panel has already sent a detailed questionnaire to the concerned officials in the Finance Ministry and RBI.

"We have not yet received answers for the questions we have sent to them. They will reply few days before the January 20th meeting. Their replies will be discussed in detail," PAC Chairman and senior Congress leader K V Thomas told PTI.

Asked if the PAC would call the Prime Minister if replies were not satisfactory, he said: "The committee has all right to call anybody involved in the matter. But that will depend on the outcome of the January 20th meeting. We can call PM on demonetisation issue if members unanimously decide."

PTI further reported that a PAC meeting on this issue has been called on January 20th, in which the RBI Governor Urjit Patel, Finance Secretary Ashok Lavasa and Economic Affairs Secretary Shaktikanta Das will be present.

Talking of an earlier meeting with PM Modi post demonetisation, Thomas said, "I had met him and he said that the situation will be normal after 50 days by December-end. But it does not looks like."

He added that,"the PM is misleading the country to satisfy his ego. He is trying to justify his wrong decisions. He has done in a callous manner by introducing Rs 2,000 notes," he said. 

Among key questions sent to the government officials were: who were involved in the decision-making?, how much money has come back into banks after demonetisation?, is there a law that can restrict people's access their money?, how much money has been pumped back into the system?, if black money issue has been addressed and the impact on the economy and poor?.

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