Amid Adani row, FM says regulators should be on their toes to keep market stable

Finance Minister Nirmala Sitharaman has said that regulators Sebi and RBI should always be on their toes to keep the equity market stable and indicated that the Adani stock rout following a Hindenburg report was a company specific issue.

She said banks and insurance companies are "not overexposed" to any one company and assured that Indian markets are very well managed by its regulators.

"I don't want to have any view on it except that the regulators should act, act in time, and act to keep the market stable, act to keep India's regulatory functions at its best, whether it is the Reserve Bank, or SEBI. Sitting in the Finance Ministry, my view would be that the regulators should be always on their toes. And that is where I would comment on what's got to be done," Sitharaman said.

The Minister was replying to a question in an interview to Times Now on whether the Adani group stock rout was just a market activity, or this has happened for just one stock.

The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.