When Raghuram Rajan took office as the 23rd governor of the Reserve Bank of India (RBI) on September 4, 2013, it was a time when foreign investors had fast been losing faith in the Indian economy. Indeed, the country was facing its worst crisis in confidence in two decades. The rupee had fallen more than 20% since the start of the year and over 40% within a two-year period. It was a situation that Rajan had predicted in a speech he made in 2012 to an audience in New Delhi that included the then