India’s liquidity situation comfortable: Reserve Bank

October 14th, 2008 - 9:23 pm ICT by IANS  

Manmohan SinghNew Delhi, Oct 14 (IANS) Reserve Bank of India (RBI) Governor D. Subbarao Tuesday said the liquidity situation was comfortable.“The liquidity situation is comfortable. Everything is under control,” Subbarao told reporters after meeting Finance Minister P. Chidambaram here at North Block, the seat of the finance ministry, Tuesday evening.

“We reviewed the situation with the finance minister,” Subbarao said, adding that he was going to meet Prime Minister Manmohan Singh.

In his meeting with the prime minister, the RBI chief is expected to discuss initiating more fiscal measures - including reduction in the repo rate or the rate at which the central bank lends to commercial banks - to tide over the current turmoil in the financial market.

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