RBI measures on liquidity necessary for growth: Ahluwalia

Last Updated: Tue, Jul 16, 2013 04:58 hrs
RBI has given good signal: Montek

The short-term measures taken by the Indian central bank to curb rupee liquidity are necessary for growth and will not make a significant difference to the long-term rates, the deputy chairman of the country's Planning Commission Montek Singh Ahluwalia told TV channel CNBC-TV18 on Tuesday.

"I would hope that when stability is restored, the RBI will be able to wind out this intervention," Ahluwalia said.

The Reserve Bank of India announced measures late on Monday to curb the rupee's decline by tightening liquidity and making it costlier for banks to access funds from the central bank.

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