Finance Minister holds meeting to tackle current financial situation

October 29th, 2008 - 9:02 pm ICT by ANI  

P. Chidambaram

New Delhi, Oct 29 (ANI): Finance Minister P. Chidambaram on Wednesday held a meeting at his North Block office with key regulators and policy makers, including Planning Commission Deputy Chairman Montek Singh Ahluwalia, on the current financial situation and to discuss further measures to tackle it.

The meeting was attended by Reserve Bank of India (RBI) Governor D. Subbarao, Securities and Exchange Board of India (SEBI) Chairman C. B. Bhave, RBI Deputy Governor Rakesh Mohan and former RBI Governor C. Rangarajan among others.

The meeting assumes significance in the backdrop of a slew of measures taken by RBI and government to inject liquidity into the cash-starved system.

Government and RBI have reiterated that further steps would be taken, if required, to stabilise the economy.

On Friday, Chidambaram had said RBI would continue to deploy both conventional and unconventional tools, when the central bank announced mid-term review of credit policy.

The apex bank would infuse more liquidity, if necessary, he said, adding that RBI would continue to use the liquidity adjustment facility window with flexibility. (ANI)

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