RBI, IBA meeting ahead of credit policy review

The RBI's meeting with members of the Indian Banks' Association was meant to to elicit their views on monetary and credit issues.

In the run-up to the mid-term review of its annual credit policy this month-end, the Reserve Bank of India (RBI) on Monday held a meeting with members of the Indian Banks' Association (IBA) to elicit their views on monetary and credit issues.

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The IBA is the representative body of Indian banks and is currently headed by IDBI Chairman, VP Shetty.

The meeting was attended by RBI Governor YV Reddy, Deputy Governor Rakesh Mohan and IBA members.

This follows the resource management meeting held last week between the RBI and chief executives of select banks and is part of the apex bank's policy to consult all stakeholders to elicit their views on monetary issues.

Such meetings are routine before the review of the annual credit policy and provide valuable inputs in formulating the RBI's monetary stance.

The Central bank is slated to unveil the mid-term review of credit policy on October 31.