Raghuram Rajan took office as the 23rd governor of the Reserve Bank of India (RBI) on 4 September. He gave a good inaugural speech. It was purposeful. It had the stamp of authority. It had vision and audacity. It revealed a man who knew his mind, who had done his homework and who was prepared to lead from the front. All of these have been absent in our political leadership over the last decade. Hence, most of us went ecstatic on reading that speech or on hearing him.