IMC welcomes RBI initiatives to ease liquidity in market

Mumbai, Oct 17 (UNI) Welcoming the measures taken by the Reserve Bank of India (RBI) over the last ten days, including cutting Cash Reserve Ratio by 2.5 points, the Indian Merchants' Chamber today sought the Apex bank to reinforce these initiatives with a reduction in Repo rate by at least 100 basis points.

IMC President M N Chaini, in a statement here, said the measures had enhanced liquidity in the banking system by around Rs 1,45,000 crore there by providing the much needed succour to fund starved banks and corporate sector.

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