Quentin D. Solano
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Quentin D. Solano in Breaking news,

Reserve Bank of India slashes interest rates

India slashed interest rates for the fourth time this year on Tuesday, a policy move aimed at shoring up economic growth in the face of rising global risks.

The Reserve Bank of India cut the rate at which it lends to banks by 0.5 percentage points to 6.75%, a larger reduction than economists had expected. Two of the bank's previous cuts -- made in January and March -- were unscheduled surprises.

CNNMoney (Hong Kong)