RBI cuts repo rate to 9-year low

As expected, the Reserve Bank of India (RBI) lowered its key policy rate yet again on Friday -- the fifth successive time this year that it has done so in a bid to spur slowing economic growth. But the news was overshadowed by the RBI's announcement that it was sharply reducing India's growth forecast for the fiscal year to 6.1% from 6.9% earlier.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/31J7Mmy