Finance minister seeks to lift mood before opening bell

October 13th, 2008 - 11:29 am ICT by IANS  

New Delhi, Oct 13 (IANS) Ahead of Monday’s opening bell in the beleaguered Indian equities markets, Finance Minister P. Chidamaram sought to lift the mood of investors, saying there was “no reason at all” for people to “act in haste or give room to panic”.Pointing out that the Australian and two of the east Asian markets had opened on a positive note Monday, Chidambaram hoped the Indian equities markets would do the same.

Addressing a press conference minutes nefore the markets opened, the finance minister did not announce any new measure to increase liquidity in the economy, but said the cuts in cash reserve ration announced by the Reserve Bank of India last week would see the infusion of an extra Rs.600 billion into the economy.

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