Rajan hits the ground running

It was easily the most substantive speech by a Reserve Bank of India (RBI) governor on his first day in office. Just two hours after the formal signing-in ceremony and a warm hug from his predecessor, Raghuram Rajan got down to business in a manner that surprised all. In his first media conference as governor, Rajan unveiled a slew of reforms, many of those focused on “protecting the value of money”.

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