Bengaluru: As investors around the world are gripped with pessimism and anxiety owing to the continual freefall of global markets, the world's most prominent business leaders and public figures kicked off the World Economic Forum's annual meeting in Davos, Switzerland to 'improve the state of the world'.

Amidst the plunging stock market values and the rupee trotting towards its lowest-ever level, Raghuram Rajan, the 23rd Governor of the Reserve Bank of India sought to allay fears. Speaking at the first official session of the World Economic Forum’s five-day annual meet, which started on Wednesday, Rajan stated with optimism, things will stabilize. With his innate calm demeanor apparent, he assured listeners that the market turmoil is temporary and equities will soon find their base with foreign investors coming back to emerging markets.

Here’s the definitive list of key takeaways from what Raghuram Govind Rajan said at World Economic Forum—

Monetary Policies do not change the World by themselves

Asserting that monetary policies alone cannot change the world, the RBI Governor said that there are various other tools to carry forward reforms and boost growth.

"The good news across the world is that we have realized that monetary policies won’t change the world and the reforms bear much more. Not just enabling but also creating the underlying framework for growth will take us a long way," said Rajan, before adding that monetary stimulus has largely run its course.

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