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>> RESERVE BANK OF INDIA Latest News

JAN 29, 2013 - New Statesman

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Reserve Bank of India reduces key interest rate

The country’s central bank lowers full-year growth forecast.The Reserve Bank of India (RBI) has reduced its key interest rate to 7.75 per cent from 8 per cent for the first time in nine months to spur economic growth. India’s central bank also reduced the amount of money that banks need to keep in reserve. The move is expected to provide 180bn Indian rupees of extra cash for them to lend. Although, India’s economy grew by 5.3 per cent in the July to September quarter from a year earlier, but consumer price growth has slowed in the recent times. In December 2012, the ... Read More

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