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India finmin says "sure" cbank will take steps to address cash tightness

Source : REUTERS
Last Updated: Mon, Mar 18, 2013 06:20 hrs

MUMBAI, March 18 (Reuters) - India's central bank 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. ($1 = 54.0450 Indian rupees) (Reporting by Manoj Kumar; Editing by Bijoy Koyitty)




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