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Rajan Has Taken Very Positive Steps: Nirmal Jain

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September 23: India Infoline Chairman Nirmal Jain says markets initially tanked but recovered on commentary from RBI Governor Raghuram Rajan, who is clear about bringing down short-term interest rate and creating a yield curve. “It’s important to note the repo rate hike will not have a significant impact,” he says, adding that the markets will now be looking forward to a gradual reversal of the domestic liquidity tightening measures as economy strengthens.