Govt swings into action to tackle liquidity crunch

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Posted: 2008-10-10 11:29:24+05:30 IST
Updated: Oct 10, 2008 at 1129 hrs IST

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New Delhi, October 10: : Hit by a credit crunch and crash in the stock markets, Finance Minister P Chidambaram on Friday said that main problem is liquidity and government would do everything to tackle it.

Reserve Bank of India on Friday cut the cash reserve ratio by one per cent to ease liquidity pressures, Chidambaram said and announced to set up a high powered committee headed by Finance Secretary to assess the requirement.

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Govt swings into action to tackle liquidity crunch

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