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Perspective

As early as in mid October 2008, one and a half month after Subbarao landed at RBI headquarters, the then finance minister P Chidambaram overstepped into the RBI's domain to form committee on liquidity management.

 
 

The total additional outgo, if the recommendations of the Seventh Pay Commission are accepted completely, will be Rs 1.02 lakh crore.

The downturn in the economy depressed stock markets, which in turn severely impacted the unit-linked insurance plans (ULIPs) that invested heavily in equities.
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