FM Sitharaman Says All Stakeholders Working Together To Tackle Volatility In Stock Market


FM Nirmala Sitharaman said that all the regulators, Reserve Bank and Finance Ministry are working together keeping tab on the volatility in the stock market

Written By Gloria Methri | Mumbai | Updated On:

In her media briefing on Tuesday, FM Nirmala Sitharaman said that all the regulators, Reserve Bank and Finance Ministry are working together, keeping a tab on the developments & volatility in the stock market. She said that the market regulator SEBI has come up with some set of guidelines amid the Coronavirus outbreak.

Apart from this, she also stated that charges will be relieved for the next 3 months on cash withdrawal from any ATM. The Debit cardholders can thus withdraw cash from any bank ATM, free of charge for the next 3 months.

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Finance Ministry working on economic package amid COVID-19 crisis

As the Prime Minister announced a special 'economic task force' to look into the economic situation amid Coronavirus crisis, The Finance Ministry said on Tuesday that it is working on the economic package of the same. 

She said PM Modi is closely monitoring the situation. There is a multi-layered composition of the task force -- a group of industry leaders forming a subgroup, a group of MPs, a group of academics, several such sub-groups are giving inputs to the Finance Ministry, it said.

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"Finance Ministry is working intensely with the various sub-groups. The economic package is being worked out. We will announce that soon. We are making these announcements to ease the burden of tax-related issues," FM Nirmala Sitharaman said.

At 8 PM on Tuesday, Prime Minister Modi will address a press conference, and there is a comprehensive looking into is happening with regard to the economy, Sitharaman said.

READ | Govt, RBI Closely Monitoring Markets: FM Nirmala Sitharaman

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