Mumbai: Reserve Bank of India (RBI) today (May 17, 2004) said it is closely observing the developments in the stock and financial markets, including foreign exchange market, and will ensure that the payment obligations on the exchanges are met smoothly.

"RBI has been in touch with major settlement banks and both the stock exchanges (BSE and NSE) to ensure the payment obligations are met smoothly," the Central bank said in a statement.

The banks can get in touch with RBI for any liquidity assistance, the apex bank said.