The new governor of the Reserve Bank of India, Raghuram Rajan, said on Wednesday the country’s economy was “fundamentally sound” and had a “bright future” in his first remarks after taking the helm at the central bank earlier in the day.
Rajan said the government would look to reduce investments by banks in government bonds “in a calibrated manner”. He added the RBI would work together with the government and the market regulator to steadily liberalize markets.
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