The government and the Reserve Bank of India (RBI) are working together to tackle the country's economic problems, but there is no "magic wand" to fix them, said Raghuram Rajan, who will take over as the RBI governor next month.
"We do not have a magic wand to make the problems disappear instantaneously, but I have absolutely no doubt we will deal with them," said Mr. Rajan after he was named as a replacement for outgoing governor D. Subbarao.
Copyright: Thomson Reuters 2013
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