P Chidambaram is set to visit Mumbai on Saturday for the first time after taking over as finance minister. On his agenda are meetings with officials of the Reserve Bank of India (RBI), the Securities and Exchange Board of India (Sebi) and stock exchanges. The minister will also meet institutional investors. According to senior government officials, Chidambaram’s schedule will begin from Mint Road, headquarters of the RBI, where he is expected to discuss the fiscal and monetary situation with the top brass of the banking regulator. The minister is expected to impress upon the RBI that the government is serious about bringing down the fiscal deficit, and encourage the apex bank to cut rates. The government also wants the RBI to speed up work for giving licences for new banks.......
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