Rajan, including providing dollars directly to oil companies, have also helped.
Still, analysts expect the economy to stay weak.
The World Bank last month slashed its growth forecast for Asia's third-largest economy to 4.7 percent in the year ending in March, below the decade low of 5 percent in the previous fiscal year.
India's central bank also raised interest rates by a quarter percentage point for a second consecutive month in October to fight accelerating inflation.
Blue chips have been gaining nonetheless. India's broader NSE index rose 0.2 percent, also within sight of a record high that was set on Jan. 8, 2008.
State-owned banks gained for a second consecutive session on Friday on hopes of stabilising asset quality, sending State Bank of India (SBI) Ltd up 2.3 percent.
Hero MotoCorp gained 2.3 percent ahead of its October sales later in the week.
Dr Reddy's Laboratories shares gained 0.5 percent after it September-quarter consolidated net profit rose by 69 percent to 6.90 billion rupees.
($1 = 61.4550 Indian rupees)