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National News

Mar 03, 2020
6:33PM

RBI says monitoring global and domestic developments in wake of coronavirus epidemic

Tweeted By AIR
The Reserve Bank today said that it is monitoring global and domestic developments closely and continuously in the wake of the coronavirus epidemic, which has triggered financial instability across all global markets. In a statement issued from Mumbai, RBI said it is prepared to take all appropriate actions to ensure the orderly functioning of financial markets, maintain market confidence and preserve financial stability.

RBI said financial markets across the globe have been experiencing considerable volatility, with the spread of the coronavirus triggering risk-off sentiments and flights to safe haven. Emphasizing that spill-overs to the Indian financial market has been largely contained, the apex bank said that growing hopes of coordinated policy action to mitigate the broader fallout to economic activity has boosted market sentiment today.  

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