Mumbai: The Reserve Bank said on Tuesday that it is monitoring the global as well as domestic situation regarding the effects of the dreaded corono virus. He also said that he is ready to take necessary steps to ensure that the financial markets function properly.
The RBI said in a statement that financial markets have seen significant fluctuations globally with the outbreak of the corona virus. This has affected the perception and investors are withdrawing money from the market to invest in a safe place.
The central bank said, “The Reserve Bank is closely and constantly monitoring global and domestic activities and taking appropriate steps as needed to ensure that the financial markets function systematically, maintain market confidence and preserve financial stability.”
Financial markets have been adversely affected by the Corona virus crisis in China and its spread to other countries. Meanwhile, the government has suspended all regular visa-e-visas issued on or before March 3 to citizens of Italy, Iran, South Korea and Japan. This step has been taken after two new cases of corona virus were reported in the country.