Reserve Bank governor Raghuram Rajan met Finance Minister P Chidambaram today ahead of the central bank's key meet on Thursday. Dr Rajan described the hour-long meeting as part of "regular interaction" that takes place between RBI and finance ministry.
The central board of Reserve Bank will meet in Raipur on Friday to discuss key economic and financial developments. The RBI board meets at least once every quarter.
Governor Rajan and the four deputy governors, who are the official directors on the RBI's board, will be joined by economic affairs secretary Arvind Mayaram and financial services secretary Rajiv Takru, the government nominees, on the board. There are also 11 non-official directors on RBI board.
The RBI board meet comes at a time when the Indian economy clocked its slowest growth in four years (June quarter). The current account deficit rose to 4.9 per cent in the April-June quarter.
The RBI is scheduled to announce its second quarter policy review on October 29. In its mid-quarter review of policy review in September, the central bank had unexpectedly hike repo rate by 0.25 per cent, stunning analysts.
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