RBI must promote growth, price stability: Chidambaram

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Reuters NEW DELHI
Last Updated : Aug 14 2013 | 5:36 PM IST

NEW DELHI (Reuters) - The mandate of the Reserve Bank of India (RBI) must include promoting growth and employment, not only price stability, finance minister P. Chidambaram said in the Rajya Sabha on Wednesday.

"We must have a monetary policy that's prime objective is price stability but must be seen part of a larger mandate of growth and employment," he said, while replying to a debate on inflation in the upper house.

(Reporting by Rajesh Kumar Singh and Manoj Kumar)

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First Published: Aug 14 2013 | 5:31 PM IST

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