Subbarao to meet finance minister Monday

MUMBAI (Reuters) - Reserve Bank of India Governor Duvvuri Subbarao was due to meet with the finance minister in New Delhi later on Monday, two sources familiar with the matter said.

The rupee fell to a record low last week, and investors are watchful for any further steps from the government or RBI to support the currency.

The agenda of the meeting between Subbarao and Finance Minister P. Chidambaram could not immediately be confirmed, but it comes ahead of Subbarao's trip to Russia later this week for a G20 meeting of finance ministers and central bank heads.

He is due to speak at an event in London on Wednesday before heading to Moscow.

A Reserve Bank of India official was not immediately available to comment and the finance ministry declined to comment.

India's economic gloom deepened on Friday with a surprise drop in industrial output, a fall in exports and higher retail inflation, adding to the central bank's challenge of reviving the economy and supporting the rupee.

Earlier on Monday, the organiser of an event in Mumbai had announced that Subbarao had cancelled a speaking appearance there because he had been called to the capital to meet Chidambaram and Prime Minister Manmohan Singh, although Singh's office later said he had no meeting scheduled with Subbarao on Monday.

It also could not be immediately verified who had initiated the meeting between Subbarao and Chidambaram.

(Reporting by Neha Dasgupta and Suvashree Dey Choudhury; additional reporting by Manoj Kumar; Editing by Tony Munroe)