New Delhi, 6/2: Government officials and regulators stepped in over the weekend to calm frayed nerves over concerns the turmoil surrounding billionaire Gautam Adani’s conglomerate would spill over into the economy and affect global investor sentiment toward the country.
While Prime Minister Narendra Modi has yet to comment publicly on the saga, officials from his administration said Indian regulators were independent and competent to deal with the fallout. The Securities and Exchange Board of India said it was committed to ensure market integrity. The central bank has assured that banks are within limits on their exposure to the Adani group.