Union Finance Minister Mr. P Chidambaram recently dismissed as "media creation" reported differences between Government & RBI Governor Mr. D.Subbarao.
"I have already explained about the....Media created differences between Government and RBI (Governor)", he said when asked if "his problem with RBI Governor is because he did not oblige with rate cut".
"You asked the question again. After two days, I will give the same answer", he said reporters after a meeting with South Zone Chief Ministers & top officials of public sector banks & financial institutions.
A day after Finance Minister Mr. P. Chidambaram asked RBI to speed up the process of issuing new bank licences, Mr. Subbarao said last Friday that it would not be possible without fulfilling the enabling conditions for the same.
After the RBI's hawkish stance on the rate cut recently, the Finance Minister had also remarked that if the government has to walk alone to face the challenge on the growth path, it would do so.
PTI
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