"What we are seeing today is the volatility caused by global factors. I would say that at this point in time, we must remember that we are better placed to weather this volatility," Kochhar, the managing director and chief executive of the country's largest private sector lender, told reporters here.
The markets have seen in the last few days a massive rout, wiping out over Rs 8 trillion of investor wealth.
Stating that she expects the country to remain resilient and will tide over the current turmoil, Kochhar cited the strong forex reserves of over USD 380 billion and the narrowing current account gap as the bulwarks of the country.
This Monday when the market tanked close to 6 per cent, to assuage the wounds, Reserve Bank Governor Raghuram Rajan had said the economy was better placed than many others with a strong fiscal position.
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Kochhar further said that "we are not relying too much today on capital flows to fund our imports".
"The country is heading in the right direction as far as fiscal deficit and inflation are concerned. All these factors augur very well for us which give us the ability to weather this volatility which we are seeing because of global circumstances," Kochhar said.
The Sensex tanked nearly 1,700 points on Monday despite the comments from Rajan and Finance Minister Arun Jaitley during market hours, but gained some lost ground yesterday recovering over 290 points but shed 317 points at the close of trade today.