Raghuram Rajan calls on Jaitley ahead of monetary policy

New Delhi: Reserve Bank Governor Raghuram Rajan on Friday called on Finance Minister Arun Jaitley and is believed to have discussed the macroeconomic situation ahead of his last monetary policy review on Tuesday.

The meeting took place in the backdrop of the government today notifying 4 per cent inflation target for the next five years, based on which the new interest rate setting panel would take its monetary policy decisions going forward.

"I have no comments...We have a policy on Tuesday, so I have to wait till policy," Rajan told reporters when asked about the meeting.

In a lighter vein, the outgoing RBI Governor said he was in "silent period", adding "(On) Tuesday, I will be able to talk."

The Governor interacts with the media in Mumbai after announcing the monetary policy review.

Rajan will announce his last scheduled monetary policy review on August 9. He would be demitting office on September 4 after completing a three-year term.

The RBI had maintained status quo on interest rate in its June monetary policy review.

The Reserve Bank has reduced interest rate by 150 basis points since January 2015 with an aim to boost economic growth.