New Delhi: Amid the ongoing row over the Hindenburg report levelling allegations against Adani Group, Union Finance Minister Nirmala Sitharaman on Saturday said that Indian regulators are “very experienced” and “are on their toes” to handle the situation.
Nirmala Sitharaman while speaking at a press meet added that “India’s regulator (RBI) is very, very experienced and they are the experts in the domain, they are on their toes as always and not just now. So I will leave it there”.
The Finance Minister briefed the RBI’s Central Board of Directors on the recently-released Union Budget for the year 2023-24.
Recently there was a major crash in the Indian stock market in the wake of a report by US short-seller Hindenburg Research on the Adani Group.
The US firm has accused the Indian conglomerate of engaging in fraudulent transactions and share-price manipulation, which the Adani Group has denied.
The Supreme Court on Friday heard a petition seeking the Apex Court’s intervention in the Adani row.
The Supreme Court has sought a response from the Finance Ministry and the statutory market regulator, SEBI on how to ensure that Indian investors are protected in future against sudden volatility.
(With Agency Inputs)
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