Omicron variant scare today, something else tomorrow. People, markets and policy makers world wide will shoot from the hip in crisis management without data. Welcome to the ‘never’ normal world we live in!— Uday Kotak (@udaykotak) November 29, 2021
As fears rise over the Omicron variant of COVID-19, Kotak Mahindra Bank CEO and MD Uday Kotak cautioned people against alarmist reactions and methods of crisis management by markets and policymakers.
The billionaire banker took to Twitter and vented his anger after the Omicron variant scare led to a sharp fall in markets across the world.
“Omicron variant scare today, something else tomorrow. People, markets and policymakers worldwide will shoot from the hip in crisis management without data. Welcome to the ‘never’ normal world we live in!,” Uday Kotak tweeted.
The comments by Kotak, who was recently targeted by some for Paytm’s poor market debut, come as global economies are taking cautionary steps amid the spread of the new COVID-19 variant.
Earlier, India on Sunday decided to review the resumption of international flights, introduced stricter guidelines for people travelling from or transiting through 'at-risk' countries and issued a slew of directions to the states for ramping up testing-surveillance measures and health facilities.
While no cases of the new variant, which was first reported in South Africa on November 24, have been reported in India, a South Africa returnee has tested positive for the virus in Maharashtra's Thane. It is yet to be ascertained if he is carrying the newly detected COVID-19 variant.