Subbarao meets Chidambaram

Ahead of the second quarter review of the credit policy, Reserve Bank Governor D Subbarao on Friday met Finance Minister P Chidambaram and discussed the macro-economic situation. The RBI will review its monetary policy for the second quarter on October 30.

In order to ease the liquidity situation, RBI in its mid-quarterly monetary policy on September 17 had cut Cash Reserve ratio — the percentage of deposits banks keep with central bank — by 0.25 per cent.