Chidambaram meets Sebi, RBI chiefs ahead of Geithner, Bernanke visit

Finance minister P Chidambaram, who announced several measures to boost the stock market and foreign direct investment in India, today met Reserve Bank of India governor D Subbrao ahead of next week's meeting with US treasury secretary Tim Geithner and Federal Reserve chairman Ben Bernanke.

Chidambaram, along with economic affairs secretary Arvind Mayaram, banking secretary D K Mittal and joint secretary Anup Wadhwan, today held meetings with RBI officials, including governor D Subbarao.

The finance minister along with his official entourage also met officials of market regulator Securities and Exchange Board of India (SEBI).

Chidambaram, who announced a raft of measures like liberalisation of the FDI policy in a host of sectors like multi-brand retail, civil aviation, insurance, and pension recently, is visiting the financial capital for the first time after taking over as finance minister on 1 August.

The meeting also assumes importance as it comes ahead of RBI's half-yearly credit policy review on 30 October.

Chidambaram later met officials of the market regulator at SEBI Bhawan and chaired a meeting of its board. The finance minister also engaged heads of the two stock exchanges and leaders of the mutual fund industry at the SEBI headquarters.