Facebook Twitter Google Rss
Raghuram Rajan - new RBI governor promises bold reforms, quick actions to stabilise economy

New Delhi, September 4: Dr Raghuram Rajan, the new Reserve Bank of India governor said on Wednesday that India’s economy was "fundamentally sound" and had a "bright future". 
The new RBI Governor, “This is not an easy time; the economy faces challenges. Our actions will be at measured pace given the current market turmoil.”
His first policy statement will be out on September 20. 
Dr Rajan said, "protecting the value of money is an important objective" and "low and stable levels of inflation crucial" remains crucial. He also said he will formulate policies that will lead to "faster, broad based inclusive growth leading to fall in poverty" while highlighting his priorities in the policy making. 
Dr. Rajan also stressed on the importance of communication with the public. "The RBI should be a beacon of stability... the public should have a clear idea of the central bank... key to all this is communication," Dr Rajan said.
At the same time, he cautioned about expecting too much very soon.  "No one can doubt the country's promise," the 50-year-old economist said after being named in early August to the post. He added, "there is no magic wand to make the problems disappear instantaneously."
Rajan, son of a diplomat, did his engineering at IIT and completed his Doctorate in Finance from Massachusetts Institute of Technology. He gained popularity as IMF Chief economist after publishing a paper that said sub-prime lending could lead to disaster, and warned of the global financial crisis three years before it struck. 
Posted by Robin
Please Login or Register to post your comments.
Enter your comments here
Post Comment

No comments are posted.

Related news
Lok Sabha elections to be held from mid-April

New Delhi, Jan 5:Bracing for the big exercise, the Election Commission is all set

2014-01-05 10:02:56
Not to contest Lok Sabha elections: Kejriwal

New Delhi, Jan 4: Delhi Chief Minister Arvind Kejriwal today ruled out his contes

2014-01-04 10:01:29
PM rules himself out for 3rd term, calls Modi disastrous

New Delhi, Jan 3: Prime Minister Manmohan Singh today ruled himself out of the ra

2014-01-04 09:45:43
Delhi gang rape case: Four accused get death sentence

New Delhi, Sept 13: The Saket court in Delhi has given death sentence to the four

2013-09-13 02:30:11
Delhi gang rape case sentencing deferred to Friday

New Delhi, Sept 11: The sentencing for the four accused in the Delhi gang rape ca

2013-09-11 04:52:42
Serial killer 'Psycho Shankar' arrested in Bangalore

Bangalore, Sept 6: Serial rapist and killer 'psycho Shankar', who escaped from

2013-09-06 02:20:33
Photo Gallery
Video Gallery

Copyright © 2014 Beads Media | Terms of Use and Privacy Policy