RBI Governor Urjit Patel calls on Jaitley before monetary policy review

New Delhi: Ahead of the next monetary policy review, Reserve Bank Governor Urjit Patel on Friday called on Finance Minister Arun Jaitley and believed to have discussed various macro-economic issues.

RBI Governor usually meets Finance Minister before the monetary policy review.

The six-member Monetary Policy Committee (MPC) of the RBI headed by Patel will meet on June 6 and 7 for the Second Bi- monthly Monetary Policy Statement for 2017-18.

The resolution of the MPC will be placed on the website in the afternoon of June 7, the central bank said in a statement.

Before meeting Jaitley, Patel had a meeting with Economic Affairs Secretary Tapan Ray.

The MPC will be meeting in the backdrop of India's economic growth slowing to 7.1 percent in 2016-17.

Trade and industry is keenly awaiting the MPC decisions on interest rate.

On April 6, the Reserve Bank had left its benchmark lending rate unchanged at 6.25 percent for the third monetary policy review in a row citing upside risk to inflation.