How Raghuram Rajan has performed so far

He has already succeeded in restoring calm in the foreign exchange market.

Raghuram Rajan has walked the talk so far. On his first day in office, he had said he would not work for votes or Facebook Likes.

The mid-quarter review of monetary policy on September 20 showed he would not hesitate to take tough decisions, he had hiked the repo rate.

The move stumped market participants. At the same time, he reduced the marginal standing facility (MSF) rate - that is operative rate now - to signal his willingness to restore normalcy in the money market. 

Rajan, who completed a month as the governor of Reserve Bank of India on Friday has already succeeded in restoring calm in the foreign exchange market. 

Business Standard takes a look at how things have changed for the better in the last one month.

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Rupee gains

The rupee logged its highest monthly gain in September.

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Call rates

Short-term rates dropped below the double-digit mark.

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Forex reserves

India's forex reserves have rebound after hitting a 39-month low.

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Inflation

Hike in repo rate to 7.5 per cent to anchor inflation expectation.