Reserve Bank of India Governor Shaktikanta Das smiles during a press conference to announce the first bi monthly monetary policy in Mumbai, India, Thursday, April 4, 2019. India’s central bank has lowered its key interest rate by a quarter of a percentage point to 6% to strengthen domestic growth ahead of a national election next week. (Rajanish Kakade/Associated Press)NEW DELHI — India’s central bank cut its key interest rate by a quarter of a percentage point to 6% on Thursday, moving to prop up economic growth ahead of a national election next week. The interest rate is what the federal bank charges on lending to commercial banks. “The need is to strengthen domestic growth impulses by spurring private investment which has remained sluggish,” the central bank said.

Source: Washington Post April 04, 2019 11:25 UTC