Credit growth to 15%, the impact of "transitory" demonetization, says RBI Governor Urjit Patel



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  Strong growth of credit in economics, strong underpinnings: Governor of the RBI

The governor of the RBI was faced with many issues related to the feud with the government.

Quoting solid grounding, Reserve Bank of India (RBI) Governor Urjit Patel said A group of lawmakers said Tuesday that the impact of the demonetization was "transitory" and that it was "unstable". The economy had recorded strong credit growth of 15% a year, sources told NDTV. The head of the RBI, perceived as disagreeing with the government on many issues, including a liquidity crisis and the transfer of surplus funds, informed the Standing Committee on Finance of the state of the economy and the consequences of the demonetization of 2016. The former Prime Minister of Congress, Manmohan Singh, is also a member of the committee chaired by the senior congressman and former minister of the Union, Mr. Veerappa Moily.

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