Inflation immediate priority: Subbarao

After assuming the top post, the new central bank governor on Friday said that checking inflation would be the immediate priority. He also added that, in the short to medium term financial sector reforms would also be given importance. The new RBI chief succeeded YV Reddy whose term has come to an end. Subbarao, who was previously the Finance Secretary in New Delhi, assumed office at the central bank's headquarters in Mumbai and has been appointed for three years.