New Delhi: With the sensex plunging nearly 1000 points over UK's exit from European Union, and rupee breaching 68-mark, government and RBI have stepped in to curb volatility.
Government is prepared for all eventualities, said Economic Affairs Secretary Shaktikanta Das on Friday.
When questioned about the panic reaction from securities, Mr. Das brushed it aside saying, "Stock market is down on initial spontaneous reaction."
"Rupee depreciation is also in line with other Asian currencies," Mr. Das noted, adding that the government and RBI have discussed all possible eventualities to deal with the situation.
Mr. Das reiterated that India’s trade is not going to be impacted significantly.
The was echoed by Banking Secretary Anjuly Duggal. "Don’t think Brexit will impact India in medium or long term.
