The Napoleonic quote about preferring lucky generals to good ones doesn’t do justice to the great start RBI Governor Raghuram Rajan got off to, but not too many Governors can boast of a 248 paise appreciation of the rupee, 304 paise in the offshore non-deliverable forwards market, 1035 points in the Sensex and a turnaround in the FII market with $581 million coming in on Wednesday and Thursday. All this, without making the obligatory cut in interest rates, the only thing that seems to excite marketmen these days..............
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