Ahead of the second quarter monetary policy review,RBI Governor Raghuram Rajan met finance minister P Chidambaram on Thursday.
I discussed whole set of issues with the finance minister including state of economy, Rajan said after the meeting.
The second quarter monetary policy review on October 29 will be Rajans first such full-fledged exercise since taking over the top job at the RBI on September 4. On September 20,he had unveiled the mid-quarter monetary policy review that raised the policy rate by 0.25 per cent with a focus on controlling inflation.
The RBIs scope for cutting rates remain limited with continued spurt in prices despite concerns over low growth. Economic affairs secretary Arvind Mayaram said,The government measures on economy are showing results and government will continue to take measures.