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Business News » India News

Urjit Patel meets Arun Jaitley in Delhi before RBI Monetary Policy meet

According to a newspaper report, in a separate pre-policy meeting with economists, Patel had downplayed inflationary risks and instead focused on India's growth prospects.

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Urjit Patel meets Arun Jaitley in Delhi before RBI Monetary Policy meet
Urijit Patel met Finance Minister Arun Jaitley in Delhi, for a pre-policy consultation at North Block. Photo: Reuters

With the monetary policy right around the corner, Urijit Patel - governor of Reserve Bank of India today met Finance Minister Arun Jaitley in Delhi, for a pre-policy consultation at North Block.

This would be the fourth bi-monthly monetary policy statement of current fiscal year, scheduled for October 4, 2016. It will be the first monetary policy of Urijit Patel as a governor of the central bank. 

Earlier Patel used to join in monetary policy decision as deputy governor of RBI. Patel replaced Raghuram Rajan as a governor on September 06,2016. 

According to a newspaper report, in a separate pre-policy meeting with economists, Patel had downplayed inflationary risks and instead focused on India's growth prospects.

Market experts hope for a rate cut at this upcoming policy meeting,considering that inflation rate has eased down in August data, after surging for four-straight months. 

Retail inflation in India, or consumer price index (CPI) inflation rate,eased at 5.05% in August, on the back of better consumer food price index (CFPI). 

Analysts expects further easing in inflation rate ahead, which in turn provides room for a rate cut. 

Rajan completed his three year term as RBI governor on September 04, 2016. 

 

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TAGS:
Raghuram RajanUrijit PatelReserve Bank of India (RBI)Monetary PolicyEconomyinterest rate cutsConsumer Price Index (CPI) InflationFinance Minister Arun Jaitley
Written By: ZeeBiz WebTeam
Updated: Thu, Sep 29, 2016
08:25 pm
Mumbai, ZeeBiz WebDesk
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