As stocks bleed, government and RBI seek to calm nervous investors

As stock markets and rupee dropped like ninepins, government and RBI on Monday sought to assuage jittery investors citing strong domestic macroeconomic fundamentals and blamed global turbulence for the “temporary” crash.

Finance Minister Arun Jaitley said the government and the RBI are keeping a watch over the situation and expressed hope that things will stabilise once the transient impact is over.

“There is not a single domestic factor in India which has either contributed to it or added to it. These are external factors. I have not the least doubt that this turbulence is transient and temporary in nature. The markets will settle down,” Jaitley said.