Rajan's 100 big small-steps

While most have been looking endlessly to New Delhi for the next big wave of reforms, RBI Governor Raghuram Rajan took everyone by surprise by announcing a slew of 1991-style reforms, reforms he said, tongue firmly in cheek, were part of his short-term timetable for RBI. Though the discussion over the past few years, including between the Centre and RBI, has only centred around interest rates, Rajan hit the ground running, announcing a schedule to implement, by and large, the recommendations his committee had made in 2008—A Hundred Small Steps—to help fix the financial sector. 

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