RBI chief calls on finance minister before policy review
RBI Governor Urjit Patel on Friday called on Finance Minister Arun Jaitley and is believed to have discussed macro-economic issues ahead of the October monetary policy review amid rate cut demands to boost sagging growth.
Thesix-member MonetaryPolicyCommittee (MPC) headedbyPatelwill meetonOctober3and4in Mumbaitodeliberateonthe fourthbi-monthlymonetary policystatementfor2017-18.
The RBI governor usually meets Union finance minister before the monetary policy review.
“The resolution of the MPC will be placed on the website at 2.30 pm on October 4,” the central bank said in a statement.
The RBI may stay on hold at its ensuing policy review meet next week as inflation is expected to trend higher in the coming months leaving little space for further easing, a Morgan Stanley report said on Friday. Yashwant Sinha gets back BJP veteran Yashwant Sinha has accused Jaitley of making “cheap” remarks and said the minister’s criticism of his work amounted to criticism of then prime minister Atal Bihari Vajpayee. In a dig at Jaitley over his “job applicant at 80” barb, Sinha said the finance minister did a great “disservice” to L K Advani as he first quoted the BJP veteran's advice that his remarks should be confined to issues and not involve personalities, and then went on to make a personal attack against him.