US Treasury Secy holds talks with RBI Guv over economy, regulatory developments

US Treasury Secretary Steven Mnuchin, who is on a tour to rally support against Iran, met RBI Governor Shaktikanta Das and business leaders in the financial capital on Saturday. While the exact topics of discussion at the engagements were not immediately known, a central bank statement said the visiting official discussed "global and domestic macro-economic scenario in both countries and regulatory developments" with the RBI governor.

In a tweet, Mnuchin said he discussed issues related to the "monetary policy and the financial sector" with Das. Mnuchin also had a luncheon meeting with top officials of the National Investment and Infrastructure Fund (NIIF), the Indian government-promoted vehicle to support infrastructure investments that have received support from a slew of sovereign wealth funds already.

From his Twitter handle, Mnuchin said he discussed both the US and India's "mutual interests in promoting investments" with NIIF brass. He also paid homage to the victims of the 26/11 terror attacks in the city in November 2008, by laying a wreath at south Mumbai's Taj Hotel, one of the sites of the attacks that had claimed 166 lives.

He was accompanied by US Ambassador to India Kenneth Juster and Consul General in Mumbai David J Ranz, in all the engagements, a US government spokesperson said. He also had a roundtable meeting with business leaders Anand Mahindra, Harsh Goenka, and Adi Godrej, who head multi-billion corporations each, the spokesperson said.

Mnuchin left the city in the evening, the spokesperson said. He had come to the financial capital from New Delhi, where he had met Union Finance Minister Nirmala Sitharaman. It can be noted that India has had difficulties paying Iran for oil imports during previous rounds of sanctions led by the US, and the RBI had played an important role in solutions in the same.

The US has been peeved at Iran for pursuing a nuclear program which it fears is being dictated by what it calls as a terror outfit, due to which it has imposed sanctions against Tehran. It has been asking other nations to support it against Iran for the same. According to reports, India has stopped crude oil imports from Iran as a result of the sanctions earlier this year.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)