24 July : Ahead of the first quarterly review of credit policy on Tuesday, RBI Governor D Subbarao met Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee on Friday to review the macro economic situation.
“Tuesday is our policy review…I have come to the North Block to call on the finance Minister and review the macro economic situation with him. I met the Prime Minister in the morning and also reviewed the macro economic situation,” Subbarao told reporters after meeting Mukherjee in New Delhi on Friday.The Reserve Bank will come out with first quarterly review on 28th July.
The apex bank faces a tough task taking dovish stand in view of the government’s massive borrowing plans amid peculiar situation of wholesale price inflation turning into negative zone even as food prices remained high.