Reserve Bank of India (RBI) Governor D. Subbarao on Thursday met Tamil Nadu Chief Minister J. Jayalalithaa and apprised her of the macro economic situation and the growth-inflation dynamics in the country.
The Governor was here to attend the board meeting of the RBI.
During his interaction with the Chief Minister, the Governor felt that the State government could focus on rural infrastructure to ease supply response. Further, he wanted the State government to beef up market access to farmers.
During the meeting, the Chief Minister is also understood to have sought RBI support for the State government's initiative in delivering pension through bank accounts. The Governor, according to a release from the apex bank, has assured the Chief Minister of the RBI support for this initiative. He felt that the initiative could be launched on a pilot basis in two districts.
The Governor and the top management of the RBI also met with State government officials and bankers. They discussed the issue of routing National Rural Employment Guarantee Scheme and Old Age Pension payments through bank accounts.
