A month of new regime at RBI

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Raghuram Rajan has walked the talk so far. On his first day in office, he had said he would not work for votes or Facebook Likes. The mid-quarter review of monetary policy on September 20 showed he would not hesitate to take tough decisions, he had hiked the repo rate.

The move stumped market participants. At the same time, he reduced the marginal standing facility (MSF) rate - that is operative rate now - to signal his willingness to restore normalcy in the money market. Rajan, who will complete a month as the governor of Reserve Bank of India on Friday has already succeeded in restoring calm in the foreign exchange market. Business Standard takes a look at how things have changed for the better in the last one month