Finance Minister Arun Jaitley on Monday asserted that the turbulences in the global markets are transient and temporary in nature as the concerned authorities are watching the situation very closely.
"This turbulence is transient and temporary in nature. Markets will settle down. Concerned authorities, like Government of India and Reserve Bank are watching situation very closely," Jaitley told the media here.
Pointing out that a great amount of the turbulence in global markets has been there for the last few days, he said: "The turbulences had its impact on the Indian market itself. The factors involved in this are entirely external.