Further steps required to infuse liquidity into mkts: FM

Published on Fri, Oct 10, 2008 at 14:46 , Updated at Fri, Oct 10, 2008 at 14:53
Source : CNBC-TV18


Finance Minister P Chidambaram said the 150 bps CRR cut will infuse Rs 60,000 crore into the system. (See: RBI steps in) "In about 10-12 days, substantial liquidity will be infused. However, further steps are required to infuse liquidity into the market. We recognise that flow of credit smoothly is vital to the system," he said.


According to Chidambaram, banks are well capitalised and regulated. "Deposits are safe, so there is no need to worry about deposits."



On IIP numbers, the Finance Minister said the August numbers have to be looked into more carefully. "IIP numbers only one input, should look at imports, exports, and foreign direct investments."


Source - MoneyCpntrol.com