Jaswant To Meet Jalan Today

New Delhi, October 25: | Updated: Oct 26 2002, 05:30am hrs
Finance minister Jaswant Singh will be meeting Reserve Bank governor Bimal Jalan in Mumbai on Saturday. Mr Singh will also be interacting with members of the National Stock Exchange (NSE) and the Bombay Stock Exchange(BSE) the same day, according to North Bloc officials.

Interestingly, the finance minister will be in Mumbai just a couple of days ahead of the monetary and credit policy announcement scheduled for October 29.

Dubbing Mr Singhs meeting with Dr Jalan as unusual, however, bankers have said the government normally makes a point to distance itself from the credit policy as the central banks sole prerogative.

They feel that some incentives will be announced in the forthcoming policy for boosting capital market sentiment, as also a word of caution from Dr Jalan against over-reliance on the bond market, adding the RBI governor is likely to advise banks to exercise due dilig ence when investing in the bond market.