Rajan Has Taken Very Positive Steps: Nirmal Jain
  • Elizabeth George
  • Sep 23 2013

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.