RBI governor Urjit Patel meets Arun Jaitley; discusses issues for the monetary policy review in June

Ahead of the next monetary policy review, RBI governor Urjit Patel called on finance minister Arun Jaitley to discuss various macro-economic issues

PTI June 02, 2017 18:30:01 IST
RBI governor Urjit Patel meets Arun Jaitley; discusses issues for the monetary policy review in June

New Delhi: Ahead of the next monetary policy review, reserve bank governor Urjit Patel on Friday called on finance minister Arun Jaitley and believed to have discussed various macro-economic issues.

RBI governor Urjit Patel meets Arun Jaitley discusses issues for the monetary policy review in June

Reserve Bank of India governor, Urjit Patel. Reuters

RBI governor usually meets the finance minister before the monetary policy review.

The six-member Monetary Policy Committee (MPC) of the RBI headed by Patel will meet on 6 and 7 June for the Second Bi-monthly Monetary Policy Statement for 2017-18.

The resolution of the MPC will be placed on the website in the afternoon of 7 June, the central bank said in a statement.

Before meeting Jaitley, Patel had a meeting with economic affairs secretary Tapan Ray.

The MPC will be meeting in the backdrop of India's economic growth slowing to 7.1 per cent in 2016-17.

Trade and industry is keenly awaiting the MPC decisions on interest rate.

On 6 April, the Reserve Bank had left its benchmark lending rate unchanged at 6.25 percent for the third monetary policy review in a row citing upside risk to inflation.

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