Chidambaram meets FIIs in Mumbai

MUMBAI: Union Finance Minister P Chidambaram on Thursday commenced his meeting with the representatives of Foreign Institutional Investors (FIIs) to apprise them of the reforms process and dispel doubts about the Common Minimum Programme (CMP).
The meeting, attended by leading FIIs, is being held in the backdrop of the recent upheavals on the stock market, including the May 17 crash, which saw the bourses lose 565 points.
Earlier, the RBI Governor Y V Reddy met the Finance Minister at his hotel in south Mumbai, where the meetings with the FIIs and the captains of the industry are scheduled.
Later in the day, the Finance Minister would hold parleys with Reserve Bank of India governor, senior executives of financial and insurance companies and captains of the industry.
Chidambaram has said that Congress-led UPA government is committed to reforms and would place the economy on the path of 7-8 per cent economic growth.
Chidambaram, on a two day visit to the metropolis, has already held discussions with brokers and bankers as a part of pre-budget consultative process.