ISM Institute of Stock Market Delhi

Reserve Bank asks to stay “calm” after stocks fall rapidly.

Reserve Bank asks to stay “calm” after stocks fall rapidly.

Author Hardik Sharma

The Reserve Bank of India on Tuesday, 1 October 2019 assured the people that the stability of the Economic System of India was maintained and there was no need to panic. This press statement follows a heavy decline in the NIFTY Bank index– around 1.30% in the intra-day trade proceedings amidst clouds of pessimistic news coming in particularly from the Punjab-Maharashtra Bank situation.

 The RBI urged people not to follow rumors and see the situation themselves. However, the day ended with banks losing immensely on SENSEX and NIFTY indices due to burdens in Indian Financial System. Shares of Yes Bank dropped by over 22% while other lenders like Induslnd Bank, Punjab National Bank, PML, State Bank of India experienced a fall of 5% on the National Stock Exchange

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