Mumbai: The finance ministry will discuss with the RBI governor further measures to be taken to contain capital flows, finance minister P Chidambaram said today.

While endorsing the Reserve Bank's monetary policy stance, the finance minister said, "RBI governor will, I am sure, visit Delhi shortly and we will discuss what further policy actions need to be taken (to contain capital flows)."

Asked about RBI governor Y V Reddy's views that appropriate and decisive policy actions were required to manage capital flows consistent with macro fundamentals, Chidambaram said: "We will discuss with the RBI. He (Reddy) has given only a statement."

He said while the gap between interest rates in India and the US has increased due to cut announced by the Federal Reserve, there is no surety that capital flows would increase due to the US central bank's move.

The RBI, he said, has emphasised on credit delivery, particularly for employment oriented sectors, even as it reinforced price stability. While there is apprehension of a surge in capital flows due to widening of interest rate differential between India and the US, "We do not what will happen yet. As I had said the cat can jump either way. There could be increased capital flows... Let us wait and watch," he said.

RBI's outlook of a moderation in business confidence does not also point to a slow down in India's economic growth, he added.

He said the slackening of credit growth has been intended and were the result of RBI's previous policies. However, growth in money supply and aggregate deposits of scheduled commercial banks still continue to be high.