Finance Secretary chairs liquidity panel meet in Mumbai

Mumbai, Oct.15 : Finance Secretary Arun Ramanathan on Wednesday chaired a meeting of a panel of bankers and experts to explore options to ease liquidity pressure in the system.

The panel, which was appointed by the Central Government last week to make quick assessment of the liquidity requirement, is expected to submit an interim report within a week.

The high-powered group comprises IBA Chairman T S Narayanaswamy, UTI CMD U K Sinha, SIDBI CMD R M Malla, L and T CFO Y M Deosthalee and a representative of RBI. Association of Mutual Funds in India (AMFI) chairman A P Kurien also attended the meeting.

Sources said the panel would list the options available with the government and the central bank to ease the liquidity crunch.

This was the second meeting of the committee, which earlier met in New Delhi on Monday.

ANI