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RBI slashes repo rate by 75 bps


The Reserve Bank of India (RBI) Governor Shaktikanta Das arrives to attend a news conference after a monetary policy review in Mumbai, December 5, 2019. REUTERS/Francis Mascarenhas/Files

MUMBAI (Reuters) - The Reserve Bank of India (RBI) slashed interest rates on Friday, following other central banks, in an emergency move to counter economic fallout from a fast-spreading coronavirus.

The RBI said it was maintaining its “accommodative” stance, and would maintain its position “as long as necessary” to revive growth, while ensuring inflation remained within target.

The bank’s six-member monetary policy committee (MPC) held a meeting this week by video ...


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