IndiaSphere

As the stock market crashed under the pressure of global
meltdown and the RBI cut the
CRR by 100 bps, Finance Minister P
Chidambaram on Friday promised to address liquidity and other
concerns of the economy.

He also announced the decision to constitute a group consisting
of top bankers headed by Finance Secretary Arun Ramnathan, who
is also Secretary (Financial Services) to make a quick
assessment of the requirements of the liquidity and advise the
government accordingly.

“Credit is the lifeline of trade, commerce and business and,
hence, it is important that credit continues to flow to all
sectors of the economy. ... [Follow Original Article link for full content.]