Chidambaram denies differences with RBI on rate cut issue

Last Updated: Tue, Nov 20, 2012 14:10 hrs

Bangalore, Nov 20 (IANS) Finance Minister P. Chidambaram Tuesday said there was no difference between the government and the central bank over the issue of easing monetary policy.

Talking to reporters here after meeting chief ministers and top banking officials of the southern states, Chidambaram said the so−called differences between the RBI and the government was just a media creation.

"I have already explained about it. It's a media created difference between government and the RBI," Chidambaram said.

In the second quarter review of monetary policy for 2012−13 announced Oct 30, the Reserve Bank of India (RBI) kept key policy rates unchanged.

Reacting to the RBI move, Chidambaram had expressed uneasiness and said the government would walk alone to face the challenge of growth.

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