Union Finance Minister Nirmala Sitharaman along with Union Ministers of State for Finance Bhagwat Karad and Pankaj Chowdhary addresses a press conference in Mumbai on February 4, 2023. , Photo Credit: PTI
facing questions Adani group ongoing issue What could snowball into a major financial crisis and what steps the government is taking on this front, Finance Minister Nirmala Sitharaman on Saturday said regulators will do their job.
“You had the Reserve Bank’s comment on this on Friday. Although not the regulator, banks and LIC themselves have come forward to say what their exposure levels are [to the Adani Group],” He said.
“So the regulators will do their job,” she said, responding to a question on the beleaguered group. “And the regulators are independent of the government. They are left to do what they see fit. To keep the regulated market in dominant position, SEBI is the authority, and it has the means to keep the market’s dominant position intact,” He said.
‘FPOs come and go’
answer another question on what Return Will the Follow On Public Offer (FPO) by Adani Enterprises have any impact on the economy or tarnish India’s image, the FM pointed to the fact that $8 billion had flown into India in the last two days and said this reflects the underlying strength. Proves. The economy was intact.
“The macroeconomic fundamentals of our economy and image, none of it has been affected. FPOs come in and FPOs go out.
The Finance Minister was in Mumbai to interact with industry members and tax consultants and seek feedback on various aspects of the Union Budget.