M A I N   N E W S

New RBI Governor allays fears, unveils ‘big initial package’

Mumbai, September 4
New RBI Governor Raghuram Rajan on Wednesday came out with a slew of measures, including more trade settlement in rupees to rescue the battered financial markets, and hinted at a shift in focus from inflation control to boosting growth.

Shortly after he took over as the 23rd Governor of the central bank, Rajan (50) laid out a detailed road map for his innings in the short term, which he called a “big initial package”.

He set up a number of committees for revising and strengthening monetary policy framework, financial stability, financial inclusion, NPAs and an outside panel of experts headed by former Governor Bimal Jalan to screen applications for new bank licenses. — PTI