Mukherjee to address RBI Directors today

Posted By: Staff
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New Delhi, July 11(ANI): Union Finance Minister Pranab Mukherjee will address the Central Board of Directors of the Reserve Bank of India, this morning.

This is the post budget customary meeting of the Central Board of Directors with the Finance Minister.

Mukherjee is likely to discuss macro economic picture as well as the interest rates with the Board Of Directors.

The directors are expected to discuss ways and means of facilitating the government's large borrowing programme.

In the recent budget, Mukherjee announced the borrowing of four lakh crore, from different financial institutions.

Officials of the Finance Ministry and the RBI are scheduled to meet on July 17 to draw the road map for Government's borrowing.

The RBI sources said it would ensure that the needs of productive credit would be met. And the RBI is reviewing the situation and would use available instruments to conduct the borrowing programme in a non-disruptive manner.

Corporate world has expressed its fear about the large scale borrowing of the Government form the financial institutions within the country. (ANI)

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