ZCZC
BCN-01
INDIA-ECONOMY-BANK-RATE
India’s central bank cuts key interest rate
MUMBAI, June 6, 2019 (BSS/AFP) – India’s central bank cut interest rates on Thursday in a boost to newly re-elected Prime Minister Narendra Modi, as he grapples with sluggish economic growth and decades-high unemployment.
The Reserve Bank of India said that the benchmark repo rate — the level at which it lends to commercial banks — would be reduced by 25 basis points to 5.75 percent.
BSS/AFP/AU/12:35 hrs