Reported about 4 hours ago
India's new central bank governor, Sanjay Malhotra, implemented a 25-basis-point interest rate cut for the first time in nearly five years to aid the slowing economy, but his cautious tone disappointed some investors who anticipated bolder measures. Despite the cut to 6.25%, the Reserve Bank of India maintained a 'neutral' policy stance, indicating no immediate proactive steps were forthcoming. While inflation eased slightly to 5.2%, it remains above the target, and growth projections for the coming fiscal year are modest, as Malhotra emphasizes a balanced approach to inflation and economic growth.
Source: YAHOO