RBI will take steps to address cash tightness: P Chidambaram

Chidambaram was speaking to reporters after meeting state-lenders on their quarterly performance.

RBI 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.

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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.

Day after PM Modi’s visit to the town, Manipur’s Churachandpur sees violent protest

India5 hr ago

Protests in Manipur's Churachandpur turned violent as two men were arrested for damaging decorations for PM Modi's visit. The crowd demanded their release and attempted to storm the police station. The men were eventually released after a bail hearing. The incident occurred after a clash between locals and police on Thursday, but the situation had calmed down before Saturday's visit.

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