New Delhi : Reserve Bank Governor designate Raghuram G Rajan said there is no magic wand to pull the country instantly out of challenges being faced by the economy.

“These are challenging times for the Indian economy… The government and the RBI are working together to address these challenges. We don’t have a magic wand to make the problems disappear instantaneously. But I have absolutely no doubt, we will deal with them,” he said.
After the announcement of his appointment as the new RBI governor, Rajan made a brief statement to reporters without taking any questions.

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