"I know my limitations and I live and conduct myself according to my limitations," he said, giving a "serious" answer to query about DMK leader M. Karunanidhi extending support to his possible candidature for the post of prime minister after the next Lok Sabha polls.
Chidambaram, who was addressing a press conference concerning rollout of direct benefits transfer, said he was also prepared to answer the question in a non-serious way.
"I know that some of you think I am foolish, but I am not so foolish as you think," he said.
At a book release function, Karunanidhi Saturday mentioned about the gradual rise of Chidambaram in national politics and said to loud applause that a "dhoti-clad Tamil should be the prime minister" indicated the people's expectation of him.
He said Chidambaram was one of the few who had a place in his heart.
Some other speakers at the event hoped Chidambaram would play a bigger role.
There has been discussion in political circles about Chdiambaram emerging as a possible prime ministerial candidate after the 2014 Lok Sabha elections if the Congress emerges winner and party general secretary Rahul Gandhi is not willing to take up the task.