New Delhi, Jan 20 (IANS) Reserve Bank of India Governor Urjit Patel on Friday is learnt to have said that cash flow in the country will normalise soon.
Patel, according to sources, told this to the Public Accounts Committee (PAC) of Parliament while answering queries from the lawmakers on demonetisation and its impact.
He told the committee that the situation in urban areas was "almost normal", and efforts were on to improve the cash flow to rural and remote areas in the country.
"It will take a few more weeks for the situation to improve in rural and remote areas," the sources quoted him as saying.
Earlier this week, the RBI Governor had told the Parliamentary Standing Committee on Finance that the new currency notes, worth Rs 9.2 lakh crore, were introduced into the financial system post demonetisation.
One of the PAC members told Patel that there was a huge mismatch between the cash deposited and the actual cash in the cooperative banks.
To this Patel said that he has information on the issue and the matter was being investigated by the Financial Intelligence Unit-India (FIU-IND).
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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