Focus: 'Raghuram Rajan, Wearing The Crown Of Thorns'

........But there is a silver lining. Sri-Vaishnavas are traditionally great devotees of Lakshmi, the goddess of wealth and prosperity. Surely, the goddess knows that Raghu and his country need a lucky break or two now. My friend SS Tarapore once told me that when he had joined the RBI as a young economist, the then governor HVR Iengar worked only in the mornings. Every afternoon he had to be on the tennis court. Let us hope that Raghu is able to imitate his predecessor. After all, on some afternoons it is better for a central bank chief to do nothing, instead of trying to defend the indefensible (Dear Reader: Did I say the indefensible rupee or did you?)

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