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Govt swings into action to tackle liquidity crunch

Source: PTI
October 10, 2008 11:54 IST
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Hit by a credit crunch and crash in the stock markets, Finance Minister P Chidambaram said on Friday that main problem is liquidity and government would do everything to tackle it.

Reserve Bank of India today 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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