Call it the Rajan effect. A day after he stunned everybody by announcing a raft of reform measures, the markets on Thursday enthusiastically welcomed Raghuram Rajan, the new Reserve Bank of India (RBI) governor. Stock markets jumped, led by banking shares, after the rupee firmed against the dollar on optimism surrounding the slew of measures announced by Rajan. Foreign institutional investors (FIIs) net-bought shares worth Rs 1,101 crore amid hopes RBI might unveil more steps to boost the rupee and clean up the mess in the banking system............
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