RBI Governor Urjit Patel is said to have informed the Parliament's Standing Committee on Finance that the central bank's decision to lower the growth forecast at least by half a percentage point was due to the possible impact on demonetisation. Patel's assessment diluted the charge of former Prime Minister Manmohan Singh, who is also a member of the panel, of a two-percentage-point decrease in GDP growth due to demonetization. May it be recalled that MMS is the one who drafted Patel in RBI and facilitated his Indian citizenship by remarking on his citizenship application that "He's very important for the country." The RBI governor declined to answer questions from the MPs on the impact of demonetization on various sectors including banking. He told the members that Rs9.2 lakh crore worth of new currencies have been introduced.