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In a clear sign that the markets are moved by more by sentiment than other factors, Raghuram Rajan's first week at the RBI has been a definite success. Along with stellar academic credentials, Rajan also brings some serious intent. It is essential to recognise that merely reputation alone is not sufficient. The current pair: Manmohan Singh and Chidambaram boast of degrees from Cambridge and Harvard Business School, yet have not shown serious intent to engage in structural reforms. Some blame ...