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RBI policy is response to liquidity crunch: Ashok Chawla

RBI policy is response to liquidity crunch: Ashok Chawla
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First Published: Thu, Dec 16 2010. 12 54 PM IST
Updated: Thu, Dec 16 2010. 12 54 PM IST
New Delhi: The central bank’s policy decisions are in response to the liquidity deficit in the system, finance secretary Ashok Chawla said on Thursday.
Chawla also said that the problem of liquidity deficit in the markets is temporary.
The Reserve Bank of India (RBI) in its policy review on Thursday kept key interest rates on hold but said inflation is significantly above its comfort level.
However, the RBI cut the statutory liquidity ratio (SLR) by 1% to 24%.
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First Published: Thu, Dec 16 2010. 12 54 PM IST