Raghuram Rajan's 'five pillars' lay out the agenda for the RBI

The RBI governor, Raghuram Rajan, unveiled a five-point agenda at the second quarter monetary policy review, aimed at an overhaul of the banking sector. Though Rajan's "five pillars" were overshadowed by his 25 basis point hike in the repo rate, they are important because they set the RBI's agenda for the next few quarters. 

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