Can Raghuram Rajan transform India's fortunes?

THE ECONOMIC TIMES Fri, Sep 06, 2013 | 02:53 PM IST Special Newsletter

Raghuram Rajan has the potential to transform India's fortunes Rajan has the potential to transform his country’s fortunes. He has the perfect academic pedigree and, as a financial economist, strong market credentials. Rajan's rupee gamble may help lure $30 billion Rajan’s offer to hedge foreign exchange deposits of the banks at a fixed 3.5% for three years may lure another $10 billion, estimate economists. As gods desert, will Raghu be market's Ram? No governor in RBI’s history had spoken so much, promised so many things, and raised the bar so high for himself on the first day of taking charge.

Featured Why you can bank on Rajan: He reminds India that it needs change! In Raghuram Rajan arrives a new governor without bureaucratic baggage, who intends to make the institution relevant in the decades ahead with financial sophistication read more

More Stories Will Raghuram Rajan go for a rate hike to save the rupee? Deutsche says there's a possible trade-off between currency stability & growth. Given this, RBI may have to follow up its July tightening measures. Follow Arjuna, not Abhimanyu: D Subbarao to Raghuram Rajan The outgoing governor of the RBI, Subbarao, has advised his successor to emulate Arjuna & get the economy out of the Chakravyuh. Rajan has the courage to defy prevailing wisdom, say ex colleagues Apart from having a multifaceted personality, Rajan has previously expressed his inclination for public service. “He has helped people during his college days. Blog: Will Rajan be able to suit action to words? While some of the measures announced are clearly within the RBI’s ambit and Rajan may be able to live up to what he has promised, others are well outside the central bank’s realm. Raghuram Rajan can only treat the symptoms, not the disease Raghuram Rajan has managed to turn the market sentiment through a burst of announcements, but it is unlikely that exuberance will last. Edit: Good luck, Governor Raghuram Rajan But he shouldn't let urgent displace important. It's wholly welcome that he linked inclusion to financial development in his initial remarks as the new governor. Rajan says RBI governorship not meant to win Facebook 'likes' Raghuram Rajan today said stewardship of the central bank is not a popularity contest or a social networking trend. Hope Rajan will cut rates, improve credit flow: India Inc India Inc said it looked forward to Rajan initiating cut in interest rates and improving credit flow to crucial sectors like infrastructure. New RBI governor Raghuram Rajan may have short honeymoon Rajan, 50, took charge Wednesday of the Reserve Bank of India, which has tried and failed to stop the steep decline of the rupee against the dollar. Dawn of a new era: Rajan says primary role of RBI will be monetary stability The 23rd governor of the RBI will move quickly to free up the bond and currency markets and push for the local incorporation of foreign banks.

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