New Delhi: During the meeting of the Prime Minister-chaired committee on tackling the global turmoil the RBI is expected to announce fresh measures to infuse more funds into the cash-starved banking system. The meeting considered certain steps and RBI would look at them... Various methods of injecting liquidity through repo and reverse repo (short-term) rates were discussed, The meeting was attended by Finance Minister P Chidambaram, Commerce Minister Kamal Nath, Reserve Bank of India (RBI) Governor Duvvuri Subbarao and senior government officials, including Finance Secretary Arun Ramanathan and Commerce Secretary Gopal K Pillai.
To a question on the job cuts, he said the government would not hesitate to raise tariffs sharply wherever cheap imports were causing injury to the domestic industry.The meeting looked at liquidity issues, especially in housing, construction and non-banking financial sectors.The RBI has unlocked Rs 2.75 lakh crore during the last a few weeks through cuts in various mandatory deposits that banks need to keep with the central bank. It also allowed housing finance companies to borrow short-term funds from overseas sources.
To a question on the job cuts, he said the government would not hesitate to raise tariffs sharply wherever cheap imports were causing injury to the domestic industry.The meeting looked at liquidity issues, especially in housing, construction and non-banking financial sectors.The RBI has unlocked Rs 2.75 lakh crore during the last a few weeks through cuts in various mandatory deposits that banks need to keep with the central bank. It also allowed housing finance companies to borrow short-term funds from overseas sources.
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