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India new RBI chief says economy 'fundamentally sound'

Raghuram Rajan (L), newly appointed governor of Reserve Bank of India (RBI), signs papers during the taking over ceremony at the bank's head
Raghuram Rajan (L), newly appointed governor of Reserve Bank of India (RBI), signs papers during the taking over ceremony at the bank's head

MUMBAI (Reuters) - The new governor of the Reserve Bank of India, Raghuram Rajan, said on Wednesday the country's economy was "fundamentally sound" and had a "bright future" in his first remarks after taking the helm at the central bank earlier in the day.

Rajan said the government would look to reduce investments by banks in government bonds "in a calibrated manner". He added the RBI would work together with the government and the market regulator to steadily liberalize markets.

(Reporting by Neha Dasgupta; Editing by Subhranshu Sahu)

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