Markets are trying to factor the consequences of 'Brexit' development and this has already led to sharp corrections in financial markets around the world, Reserve Bank of India Governor Raghuram Rajan said Friday.
Rajan said the central bank is continuously maintaining a close vigil on the market developments, both domestically and internationally. The bank will take all necessary steps, including liquidity support to ensure orderly conditions in financial markets, he said.
He noted that the Indian economy has good fundamentals, low short term external debt, and sizeable foreign reserves. These should stand the country in good stead in the days to come, Rajan added.
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