The new Reserve Bank of India’s Governor, Mr. Raghuram Rajan has entered the RBI, as the chief, with a big-bang. For the past several weeks, the INR has been struggling against the USD and even touched the record low of 68.65 on 28th August. The new RBI Governor gave the uplift to the INR, with an impressive 2.3%, which is quite remarkable. The INR showed an improved performance against the dollar and ended the day, at 65.54, after several days. His presence as the Governor also reflected in the Sunsex, as it gained 550 points, because of the new Governor’s effect.
The Central Bank’s chief in the course of announcing a full-fledged policy program, during the last week of this month. The first monetary policy of the new Governor will be known on 20th September 2013. He said that the new licenses for the banks would be issued, around January 2014.