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The Reserve Bank of India (RBI) on Tuesday said that it is closely monitoring the global as well as domestic conditions regarding the impact of coronavirus. It added that it is ready to take appropriate actions to ensure the orderly functioning of financial markets.
“Globally, financial markets have been experiencing considerable volatility, with the spread of the coronavirus triggering risk-off sentiments and flights to safe haven,” the central bank said in a press release.
Growing hopes of coordinated policy action to mitigate a broader fallout to economic activity has boosted market sentiment today, the RBI statement said.
The outbreak of the novel coronavirus (COVID-19) and its subsequent expansion to countries beyond China has adversely affected the global markets.
The worldwide death toll due to COVID-19 has topped 3,000, and the number of cases have risen above 89,000 in about 70 countries. In India, the number of coronavirus cases rose to five after two new infections were detected — one in Delhi and the other in Hyderabad.
Meanwhile, the government has issued a travel advisory, suspending all regular visas/e-visas granted on or before March 3 to nationals of Italy, Iran, South Korea, Japan who have not yet entered India.
(with PTI inputs)
