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Seldom will you see any politician or any high profile person do something like this:Isn't he adorable!Indeed, he is a rockstar!Edited on 29th Aug, 2014As on date this answer have been upvoted 4.8k times. I really feel undeserving of so many credits (upvotes) for this answer which I posted randomly. May be the picture of Mr Raghuram Rajan and the respect, and credentials, he has earned over the years did the trick. I don't feel good about getting these many upvotes for this answer somehow. Maybe it's because I know that they are plenty of good answers out there which never get the attention.I have vowed to try to make this answer better.Since, I have been working in the financial services sector, I do keep track of the steps being taken by the Governor of RBI. I will try not to reciprocate what has been mentioned before.First things first, I will like to reiterate that, at the end of the day, RBI is the regulatory body not the governing body. What happens is you give a set of macroeconomic stats to the RBI and on that basis India’s monetary policy is formed. Its powers are restricted. And within those limited powers, Mr Rajan has done a fantastic job. Here are my few observations which I think sets him apart from previous governors.Communication: I remember reading the first monetary policy of Mr Rajan and the emphasis were on the communication. He said, and I quote"A central bank should never say “Never”! But the public should have a clear framework as to where we are going, and understand how our policy actions fit into that framework. Key to all this is communication, and I want to underscore communication with this statement on my first day in office". link:http://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=29479Earlier, RBI used to follow many indicators of gauging Inflation but Mr Rajan was very clear in his conference that from now on, CPI will be the leading indicator to measure inflation. Markets run on sentiments and sentiments do get a boost when there is a proper communication about the policy and direction of a central bank which was missing earlier. I have seen him regularly giving interviews, statements, views, future decisions that can be taken by RBI, explanations about the decisions made or discussing about India's problems and their solutions.Bold decisions: When there is policy review, almost all the business channels have a poll of the possible outcomes of the policy review. In the later half of 2013 and early 2014 review he surprised the markets in each policy and gave a rationale behind it. When the analyst predicted RBI will hold rates, it was raised and when they thought RBI will definitely hike rates, it was kept unchanged. One of the top reporters mentioned that it was only Raghuram Rajan, who could have done this. What I mean is that you put your credibility on the line when your opinion doesn't match with 90% analysts and experts but he did that in style.And in the April policy review I laughed when I heard this statement on National television.Raghuram Rajan: Only surprising thing about the policy was lack of surpriseNot succumbing to pressure: There was a word in financial services that we may see a rate cut after the elections as it has always been the case in the past in India where governments try to influence the decisions made by RBI. Rates were cut unnecessary in 2012-2013 which was another reason for a market crash in August -sept apart from Fed tapering. This belief of the rate cut was further fueled by statements made by Mr Arun Jaitley prior to the election. But that was not the case with Mr Rajan. Rate cut which looked certain after the election has not yet happened and taming Inflation has remained as a priority. I am glad that RBI is working independently as well as there is no visible difference between the Government and RBI.Stable Rupee: The credit of stable currency (rupee) goes to RBI. The falling rupee topic is the popular one. Everybody knows rupee went down the hill. Here is the thing, Rupee could have appreciated to 55-57 levels after the elections, because of the sudden FII inflows, had the RBI decided not to intervene. Although appreciation of the rupee would be seen as a positive thing which it is, but you have to see the reason behind it. The "hot money" or FII money is very opportunistic. The moment there is an interest rate hike in the US or any other investment opportunity, this money will be the first to move out which can bring volatility in exchange rates. It's a complex process. Even I don't understand it fully. What I do know, is that through open market operations, RBI by buying and selling dollars at appropriate times have been able to stabilize our currency and somewhat safeguard it from future volatility by building forex reserves.Here is an article by Mr Rajan mentioning the same.RBI hopes FX reserves will cushion rupee volatilityHumility: And yes, I have not known/met many people holding powerful positions showing such humility. I have seen the opposite most of the times. I seldom see any high profile person sitting amongst common people watching a cricket match or calling a 10 year old to his office or instant reaction of saluting back a policeman for that matter. I think he is setting an example for others.In a country of one billion people where top positions have been held by absurd people mostly. I believe this time we have one of the best men in the country to do the job for us.I will keep editing from time to time.

What is the benefit to China in announcing "Made in China 2025" to the world? Wouldn't it be better to keep their plans quiet, and to dominate these industries by surprise?A2A. Well if you think that the Chinese government can run China secretly, you’ve been had! This is one of those enduring urban legends invented by those either really DUMB, or really LAZY, Western reporters, who went “the Chinese government is secretive, because, eh, I don’t speak Chinese and they don’t do their meetings and publications in English. See, they are trying to hide things from our Free Press!” And despite being profoundly illogical and impractical, some people (overwhelming among the English-speakers, and not among the German, French, and Italian-speakers), to this day, still believe this urban legend. I find this shocking.Let me ask you this question: have you heard of the Five-year plans of China? Well it’s got a Wikipedia entry. Every five years, it’s published by the Chinese government with great fanfare, and every year, the Chinese government will issue its annual report on how it’s doing against the Plan. In front of 3,000 national congress members, broadcasting live in China. Of course when China was poor, foreigners didn’t pay it any attention, ’cause who cares. But now that it’s become a really important economy in the world, pretty much all the Western bankers and management consultants will all study it carefully, because the Chinese government has 95%+ success rate on their plans, so it’s a fairly good indicator for what’s going to happen in China. Most governments would do their own analysis, like this one done on the tech section of China’s 13th five-year-plan (http://www.tillvaxtanalys.se/download/18.1af15a1f152a3475a818b62/1454505968936/China%E2%80%99s+fifteen-year+plan+for+science+and+technology-07.pdf) by the Swedish Agency for Growth Policy Analysis. Swedish Agency for Growth Policy Analysis (Growth Analysis) And this is from a little Scandinavian country with less than 10 million residents!Countries in Asia basically use it to make their own government budget, and Chambers of Commerce, from Sweden to Australia, will all pick up the useful bits and immediately send pamphlets to their business communities: “China is going to do this. Opportunity for us to make money!” That’s how “secret” it is.Now let’s take a look at the 12th five-year-plan (2011 - 2015) as an example. The plan set the following targets:Urbanization rate reaching 51.5%Value-added output of emerging strategic industries accounting for 8% of GDPInviting of foreign investment in modern agriculture, high-tech, and environment protection industriesMoving coastal regions from being the "world's factory" to hubs of research and development, high-end manufacturing, and the service sectorMore efficient development of nuclear power under the precondition of ensured safetyIncreased momentum for large-scale hydropower plants in southwest ChinaLength of high-speed railways reaching 45,000 kmLength of highway networks reaching 83,000 kmA new airport being built in Beijing36 million new affordable apartments for low-income peopleGreat. How do you think this can be done in secret? Hundreds of millions of people have this as their “to-do list” for this five years!The same with the “Made in China 2025”. It IS PART OF THE 13TH FIVE-YEAR-PLAN. Hundreds of millions of people have this on their own “to-do list” from now till 2025. Tens of thousands of organizations are involved. Every level of the Chinese government has this on their performance review form. The official Chinese government newspaper, People’s Daily, which is public with 3 million subscribers, praise those who get their jobs done, and criticize those who fail badly, on a daily basis. It’s called “using public shaming to drive behavior”. So how exactly can you keep all this secret, while still get 1.4 billion Chinese citizens to work together towards the common goals?It’s not possible. And this is why the Chinese government has never, ever, kept its public policies “secret”. Not since Day One of the founding of PRC. It’s not about “is it more beneficial to keep the plan secret”. It’s that to reach a common goal, hundreds of millions of people have to work together towards it by necessity. If you keep it secret, who’s going to get it done? You? Duh.

-> REPO rate is basically the interest rate at which the Reserve Bank lends money to the commercial banks in India.-> The commercial banks in turn, use these funds to further extend loans to the public in the form of home loans, vehicle loans, study loans etc.-> The amount of interest that these banks charge from their customers hence, directly depends on the interest rate at which these banks themselves got the loan i.e- repo rate.-> So lower repo rate means that more people will go for bank loans which implies people will spend more.-> Hence, India Inc. always presses for rate cuts before RBI's policy review.