The Public Accounts Committee of Parliament will review the demonetisation decision in January. The PAC will summon RBI Governor, Finance Secretary and Economic Affairs Secretary for a briefing on the decision and its impact on the economy.

The decision to review demonetisation was taken at a meeting of the panel held here on Thursday. Its chairman KV Thomas said some members had demanded that the PAC should take up the subject.

Talking to BusinessLine, Thomas said the question is not about the concept of demonetisation, but about its implementation.

“The Centre should take into account the concerns of common people while implementing such crucial decisions. No one is against modernisation of the banking system, but the process should have been done with a humanitarian approach,” Thomas said. He added that the concept of cashless economy could be developed only if the country has sound IT infrastructure.

He said the PAC would try to find a solution the “mess” created by the decision.

“The Prime Minister should hear the debates in Parliament on the issue. He should also discuss the matter with the Chief Ministers, former Prime Minister Manmohan Singh, former Finance Minister P Chidambaram and economists of eminence. The effort should be to solve the problem. We will try to discuss various aspects of the decision,” Thomas said.

When asked whether the panel will seek views from the States, he said such decisions will be taken collectively by the members. “Now we have decided to discuss the matter. It was a unanimous decision. We will take the next step after the initial meetings in January,” he said.

A BJP member in the panel said the effort will be to review the monetary policy of the Modi government. “It is a great decision, but we will have to understand how equipped our system is. So when the Chairman suggested that the matter could be taken up for review, we accepted it,” the member added.

PAC is reviewing the issue of non-performing assets. RBI Governor Urjit Patel and his predecessor Raghuram Rajan had appeared before the panel earlier on the issue.

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