"We have invited the RBI governor on May 17. We will be asking him about the scams and other banking regulations," a person with direct knowledge of the matter told news agency Press Trust of India.
Former Prime Minister Manmohan Singh, who is also a member of the committee, attended the meeting.
India's banking sector has been hit by several fraud, one of the biggest being the alleged bank fraud in Punjab National Bank or PNB, perpetrated by billionaire jeweller Nirav Modi and his uncle Mehul Choksi. Both are not in the country. The authorities say they are trying to bring the two businessmen -- accused in the over Rs 12,500 crore PNB scam -- to India.
Urjit Patel recently said that the RBI doesn't have enough powers to deal with public sector banks or PSBs.
The parliamentary panel discussed a spate of banking scams, both in public and private sector banks, people familiar with the matter said.
On whether the PNB scam and the ICICI Bank alleged conflict of interest case figured during the meeting, one of the people quoted above said that issues related with "all commercial banks, including ICICI Bank" were discussed.
The finance ministry officials gave part replies to queries of the lawmakers and they have been given three weeks to file a complete report on the questions.