FM to meet bank chiefs

Finance Minister P Chidambaram will meet the heads of public sector banks on Tuesday to discuss the liquidity situation in the economy.

Finance Minister P Chidambaram will meet the heads of public sector banks on Tuesday to discuss the liquidity situation in the economy. Though it is a routine affair, the meet is significant in the context of the current global and domestic economic scenario.

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The Reserve Bank of India has already taken several monetary measures to ease the liquidity situation and facilitate the lending exercise, interest rates are yet to come down. The issue will feature prominently in Tuesday's meeting, sources said.

The government has already assured the banks that all necessary steps would be taken to tide over the crisis period. It has also said that financial assistance would be provided to few banks which require it.