Since Raghuram Rajan took over as RBI governor on September 4, 2013, Indian equities have been the best performer among all emerging markets. Domestic benchmark indices have returned 43 per cent while most emerging markets have struggled to stay afloat in this period. Other markets such as the UK, Singapore, Hong Kong have fallen over 8 per cent since September 2013. "So the concern was that if investors were disappointed, you would see capital outflows taking place," he said. "FPIs liked the combination of the government and the governor," said Sanjeev Prasad, co-head (strategy), Kotak Institutional Equities. "

Source: Economic Times June 19, 2016 21:00 UTC