Rajan had already made his presence felt at RBI and on the financial
reforms front within those two years. He had made the monetary policy
sharply focused on consumer price inflation (CPI). His successor will need to decide which ones to follow through.
What a fortnight it has been. As we go to press, the United Kingdom has
voted in a referendum to exit the European Union. It was a remarkably
close vote, practically split down the middle. The markets around the
world are going crazy, and in India, the rupee and stock indices are
A private equity fund managed by Goldman Sachs is in
advanced stages of negotiations to invest $200-250 million in Subhash
Chandra's road infrastructure company Essel Highways, according to a
report in a business news daily.
Increasingly, this is a scenario being played out across the country. In
spite of the large number of financial institutions and banks present
across the country, access to financial services has been a huge
challenge for a majority of the population.