Happy as he is with steps taken by Reserve Bank to tackle the unfolding economic crisis, Prime Minister Manmohan Singh has asked the central bank to keep a vigil on liquidity availability in the financial system.
“At yesterday’s meeting of the apex group, the Prime Minister by and large expressed satisfaction at the speed at which RBI acted in the manner and advised the Governor to maintain a very close and constant vigil on the (liquidity) situation and act appropriately,” Finance Minister P Chidambaram told reporters here today.
The Finance Minister said this morning he and RBI Governor D Subbarao reviewed the conclusion of the meeting.
“I am confident that whatever measures are to be taken by the RBI will be taken as appropriate,” he said.