10-06-2008, 06:22 AM
<!--emo&:argue--><img src='style_emoticons/<#EMO_DIR#>/argue.gif' border='0' style='vertical-align:middle' alt='argue.gif' /><!--endemo--> âOur soft-hearted PM went to the US to discuss nuclear deal with President Bush. But witnessing the dire straits into which the US economy had fallen, he was so moved that, along with the Reserve Bank of India governor D Subbarao, he worked out and announced a package for injection of Rs 56,000 croroe (approx. $12.5 billion) under the Liquidity Adjustment Facility (LAF),â said Sudarshan in his Vijayadashami rally address on Sunday.
âTo keep domestic prices under control, the RBI will issue bonds under the Market Stabilisation Scheme of that value. The Rs 56,000 crore proceeds thus collected by the RBI will then be invested in the US Treasury Bills since the prime minister is disposed to help the American economy in its hour of crisis,â explained Sudarshan. âThus we will end up foregoing even the interest charge on Rs 12.5 billion dollars which we are providing to the US government.
http://timesofindia.indiatimes.com/India/P...how/3564050.cms
âTo keep domestic prices under control, the RBI will issue bonds under the Market Stabilisation Scheme of that value. The Rs 56,000 crore proceeds thus collected by the RBI will then be invested in the US Treasury Bills since the prime minister is disposed to help the American economy in its hour of crisis,â explained Sudarshan. âThus we will end up foregoing even the interest charge on Rs 12.5 billion dollars which we are providing to the US government.
http://timesofindia.indiatimes.com/India/P...how/3564050.cms