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RBI governor meets FM ahead of monetary policy review

New Delhi, Tue, 03 Apr 2012 NI Wire

D. Subbarao, Governor, Reserve Bank of India (RBI) Tuesday met Finance Minister (FM) Pranab Mukherjee to discuss the macro-economic situation, two weeks ahead of the monetary policy review.

"It was just a routine meeting. Next week I will come back and brief the finance minister about the macro-economic policy," Subbarao said to media after the meet.

In RBI's scheduled annual monetary policy review for 2012-13, Subbarao will announce the review on April 17.

The RBI last month cut the cash reserve ratio (CRR), the mandatory cash banks have to park with the Central bank against their deposits, by 75 basis points to 4.75 percent.

This resulted in the release of an additional liquidity of Rs.480 billion into the system.

However, the central bank has left repo and reverse repo rates unchanged.

--With IANS Input--

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