As share prices rose to an all-time high, bomb threats were received by two key India’s stock exchanges on Monday.
"The e-mail threatened to blow up the NSE and the BSE," Deshmukh said.
The threat was received on Monday, but it didn't affect trading in the two stock exchanges.
"We are taking all precautions. This will not affect trading tomorrow (Tuesday)," he told The Associated Press.
The e-mail came in the name of Abdul and police were investigating, Deshmukh said. Similar e-mail threats have been received in the past as well.
Earlier this year, police arrested one person living in the northern Indian town of Meerut town for sending a similar e-mail. If convicted, he can be jailed for five years.
The BSE is Asia's oldest stock exchange that was founded in 1956, while the NSE is the country's largest stock exchange.
The BSE in downtown Mumbai was one of the buildings hit by explosions in March 1993 that killed 257 people and injured more than 1,000 others.
Fueled by strong demand from foreign institutional investors, the Sensex has been surging over the past year.
In its latest rally Monday, the Sensex added 1,000 points in just five trading sessions, the same amount of time it took to rise from 16,000 to 17,000 points last month.