Monitoring coronavirus impact on financial markets, ready to take action: RBI

Reserve Bank on Tuesday said it is closely monitoring global as well as domestic situation regarding impact of dely coronavirus and rey to take necessary action to ensure orderly functioning of financial markets.

Globally, financial markets have been experiencing considerable volatility, with spre of coronavirus, triggering risk-off sentiments and flights to safe haven, Reserve Bank of India (RBI) said in a statement.

Spillovers to financial markets in India have largely been contained. Growing hopes of coordinated policy action to mitigate a broer fallout to ecomic activity has boosted market sentiment today.

" Reserve Bank of India is monitoring global and domestic developments closely and continuously and stands rey to take appropriate actions to ensure orderly functioning of financial markets, maintain market confidence and preserve financial stability," it said.

outbreak of coronavirus and subsequent spre to geographies across world has versely affected financial markets.

Meanwhile, government has issued a travel visory, suspending all regular visas/e-visas granted on or before March 3 to nationals of Italy, Iran, South Korea, Japan who have t yet entered India, a day after two fresh cases of coronavirus was reported in country. 

Im Source: PTI