Reserve Bank of India, SEBI closely monitoring financial markets
They are closely monitoring recent developments in financial markets and are ready to take appropriate actions.
New Delhi: The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) are closely monitoring recent developments in financial markets and are ready to take appropriate actions, if necessary, RBI's Chief General Manager, Jose J Kattoor, said on Sunday.
The RBI notification comes in the wake of the recent volatility that has been observed in the financial markets.
Over the past weeks, the Indian Rupee has seen value depreciation against the US dollar, which, in turn, has severely impacted financial market operations in the country.
Even though the value of the rupee showed a slight improvement, the ruling government has been on the receiving end of flak from the Opposition and citizens who were hit by the volatility.
On Friday, the BSE's Sensex plunged 279.62 points to close at 36,841.60, while Nifty closed at 11,143.10 points. Furthermore, sectoral indices closed in red for the fourth consecutive day, causing losses worth lakhs to investors.
Meanwhile, the Indian Rupee, which remained bullish, closed 17 paise higher at Rs. 72.20 against one dollar.