Chidambaram's "not to panic" appeal
13 Oct 2008, 1142 Hrs

Add comment          Mail          Print          Write to Editor

* Education Directory * Exam Results * Who is Who * Information *Tutorials * Articles * Quote * Classified

New Delhi, Oct 13 Union Finance Minister P Chidambaram today appealed to the Indian public not to panic over the impact of the global financial crisis and exuded confidence about the public's money being safe in banks.

Chidambaram's remarks had a positive affect on domestic stock markets. The Bombay Stock Exchange benchmark Sensex opened at 113 point more and regained the 11,000-mark.

He hoped that the country's economy would emerge stronger soon.

"I am confident the Indian economy will weather the (current financial) storm and emerge stronger," Chidambaram said while addressing a press meet this morning in the Capital.

He said this was a time of uncertainty and investors needed to take "informed" decisions. "Investors should keep in mind that when someone is selling, there's somebody in the market who is buying. Efforts should be made to understand why that person is buying," he added.

He informed the reporters that the Union Government, RBI and SEBI were coordinating on an hourly basis and would come up with a set of measures soon. "The government is working on more measures to improve liquidity, which is the root cause of the current problem in the markets, he said further, adding it would respond swiftly according to needs of situation," he said.

Speaking about the price rise, Chidambaram said that crude oil and, commodity prices' fall had a beneficial impact on the inflationary trend. (ANI)

Related Latest

People light candlelights to appeal for peace in Assam Shania Twain, Billy Joel "not dating" Paula Abdul "not romantically involved" with Arsenio Hall ICC says Pak "match-fixing" claims "not worth spending energy on" Delhi High Court admits Supreme Court's appeal on judges' assets Emotion, interpersonal and geographic appeal led to Chicago losing 2016 Olympic bid Burma court rejects Suu Kyi's appeal to end her house arrest Gujarat Govt may appeal against HC verdict in Jaswant Singh's book ban case BJP continues public appeal to Jaswant Singh to quit Public Accounts Committee Burmese court accepts appeal against Suu Kyi's conviction

Related Latest

India Govt. willing to give safe passage to ULFA leaders Baruah, Arabinda Rajkhowa China told no guardianship role will be appreciated Indian Government says it has a plan to deal with Maoist violence India to get state of the art surveillance gear as part of counter-terror cooperation with US US-India civil nuclear deal in final stages of completion US to give crucial information on Headley-Rana accomplice's 26/11 role to India Restoration of Mughal road in J-K heads towards completion China wants a Chinese version of Tibetan Buddhism, says Dalai Lama Cultural heritage of Manipur showcased in Sikkim Green Park stadium's scoreboard, the only manually operated scoreboard in India

• China told no guardianship role will be appreciated
• Indian Government says it has a plan to deal with Maoist violence
• US-India civil nuclear deal in final stages of completion
• India Govt. willing to give safe passage to ULFA leaders Baruah, Arabinda Rajkhowa
• India to get state of the art surveillance gear as part of counter-terror cooperation with US

• भारतीय क्रिकेट की मजबूत दीवार
• कंगारूओं के आगे ढेर, चीतों से कैसे मुकाबला करेंगें शेर
• Reducing greenhouse gases may not be enough to slow global warming
• बीकानेर महापौर चुनावः एक विश्लेषण
• Deepawali: The Festival Of Lights