Raghuram Rajan’s first year at RBI: Making a difference to continuity

..........The significant part of the path followed has been one of continuity. The difference has been the pace. Most of the points stressed by the Governor have been on the to-do list of RBI earlier and have been reiterated in various policies, but the change really brought about was that the approach has been action-oriented, with committees being set up, policy papers being put up for discussion and notifications being issued. In a way just like the Modi government, RBI has been nimble-footed in getting things done based on a time-line...........

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