As importantly, he cracked the whip on India’s stubborn inflation problem. In his closing act, India’s outgoing central bank chief Raghuram Rajan found himself facing the issue he fought the hardest against: inflation. Mr. Rajan, a former International Monetary Fund chief economist, has much to take credit for as he bids farewell, including a major rescue effort at the height of the so-called taper tantrum when he took office in 2013. And, it’s a wrap. Yet that is where his legacy maybe at risk.

Source: Wall Street Journal August 09, 2016 08:37 UTC