RBI will take steps to address cash tightness: P Chidambaram
Reuters: Mumbai, Mar 18 2013, 12:31 IST
RBI will take steps to address the existing tightness in liquidity, the finance minister said on Monday.
P. Chidambaram said he has discussed the issue of cash tightness with the Reserve Bank of India Governor Duvvuri Subbarao and was "sure" the central bank will take steps to address the problem.
Chidambaram was speaking to reporters after meeting state-lenders on their quarterly performance.
The central bank will hold its mid-quarter policy review on Tuesday.
Indian banks borrowed 1.43 trillion rupees ($26.46 billion)through the central bank's daily repo window on Monday, reflecting the extent of tight cash conditions in the banking system.
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