Finance Minister Pranab Mukherjee on Monday said inflation weighed on the mind of the Reserve Bank, which kept the key interest rates unchanged in its monetary policy review.
Mr. Mukherjee said it was not necessary for the RBI Governor to consult him before the mid-quarterly review of the credit policy.
High inflation numbers “might have weighed their (RBI’s) decision-making process. And normally in mid-quarter review, it is not necessary for the Governor to consult the Minister”, Mr. Mukherjee told reporters here.
In the mid-quarterly policy review, RBI kept policy rates unchanged in view of rising inflation and global economic uncertainty, pulling down stocks markets sharply.
Keywords: RBI monetary policy