India's central bank cuts key interest rate to 6.75%

The Reserve Bank of India (RBI) lowered the benchmark repo rate - the level at which it lends to commercial banks - to 6.75 per cent, a larger cut than analysts had expected. 

PHOTO: REUTERS

SEP 29, 20151:39 PM

[MUMBAI] India's central bank cut interest rates by 50 basis points on Tuesday in a bid to boost stuttering growth, with inflation well below its target level.

The Reserve Bank of India (RBI) lowered the benchmark repo rate - the level at which it lends to commercial banks - to 6.75 per cent, a larger cut than analysts had expected.

AFP