An unequivocal assertion by Governor Shaktikanta Das that the Reserve Bank of India is 'ready' to rise up to any situation arising out of the global health emergency from the Coronavirus, should be 're-assuring" to India Inc about stability of the Indian financial markets, ASSOCHAM Secretary General Deepak Sood has stated. In the midst of pressure on the currencies of the emerging markets and global mismatches in the dollar liquidity , the RBI is rightly and swiftly acting by different tools available to it, including the Swap options. Our large resource of foreign exchange of USD 487 billion gives an adequate elbow room to the RBI to be on top of the fast evolving situation in the world markets where there is a risk aversion as nations battle it out with the unprecedented pandemic, the ASSOCHAM Secretary General said.
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