India's central bank delivers first rate cut in nearly 5 years
The Reserve Bank of India (RBI) cut its key repo rate for the first time in nearly five years on Friday to provide stimulus to the sluggish economy, which is expected to grow at its slowest pace in four years in the current fiscal year.
The central bank cut rates for the third time in about six months as it said economic growth had been weaker than expected.
The Standing Deposit Facility (SDF) rate remains unchanged at 6.5 percent, as do the Marginal Standing Facility (MSF) and ...
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