New Delhi: Amid a bloodbath in the markets on Monday, Finance Minister Arun Jaitley ruled out any bailout package and said that India’s internal situation is strong.
“We don’t have any bailout package, India’s internal situation is strong, there is no payment crisis to stakeholders. We are keenly following domestic and international markets,” Jaitley said at a press conference.
“We had a meeting with Prime Minister today. He took stock of the current market situation…We have discussed current market situation with RBI and SEBI,” he added.
The Finance Minister further said that Prime Minister Narendra Modi has called for taking steps to convert the worldwide crisis into an opportunity for India.
The BSE Sensexfell by 1,625 points or nearly 6% on Monday making it biggest percentage fall since 2009. At one stage, the Sensex crashed by over 1,200 points, for its biggest intra-day fall in seven-and-a-half years.
Similarly, the National Stock Exchange (Nifty) slumped 339 points, to 7,961 in afternoon trade.
Meanwhile, Rupee decreased to below the Rs.66 level against the dollar for the first time in almost two years in opening trade on Monday.