Finance Minister P Chidambaram on Friday cancelled his visit to Washington for attending the Fall meeting of the World Bank and IMF on Monday.

Sources said he cancelled his visit to be available for tackling any situation arising out of the spreading global financial crisis and its ripple effect on India.

Chidambaram, who was to participate in the informal meetings of the Fund-Bank meetings on Saturday and Sunday ahead of the plenary on Monday, would have also taken part in the in the US Treasury Secretary Paul Harrison's meeting with the Finance Ministers of the countries of the G-20  that includes India.