Financial crisis has taken its toll world over and with nations resorting to one or the other measure to keep it under control India is doing its bid along with other nations to come up with the best proposal. The G20 high level meet that is planned on 15th November at Sau Paulo will see the nation as well as other global players coming up to a feasible solution for the problem having a world wide grip.

In order to be all set for the day, Prime Minister Manmohan Singh has called a meeting with the national business leaders in order to discuss the liquidity crunch and the measures that can help one to unwind from it. The meet that is called on Monday will see leading industrialists Ratan Tata, Mukesh Ambani, Anil Ambani, Sunil Mittal and Deepak Parikh among others. Industrial associations FICCI and CII have already held a meet within their own organizations and will duly participate in this as well. Presidents of CII, FICCI and Assocham, K. V. Kamath, Rajeev Chandrasekhar and Sajjan Jindal will attend the meet.

The apex bank of the country, the Reserve Bank of India has already announced various measures such as reduction in the repo rate, cash reserve ratio among others. But still much has to be sought out and reduction in high interest rates in bank lending rates will be targeted. The CII and FICCI meet that took place on Friday made the proposal of one percent further slash in the CRR as the FICCI stated that they would like to focus on "growth and growth alone" as the inflation was coming under moderation. The CII noted a low industrial growth from 10.9 per cent a year ago to 1.3 per cent in August and will seek a review on foreign direct investments in telecom, retail and aviation sectors.