Reserve Bank keeps key interest rate on hold
Reserve Bank of India has kept its key interest rate unchanged on Monday, despite facing pressure for a cut to spur borrowing and investment in the face of a worrying economic slowdown.
The RBI, India's central bank, said the benchmark repo rate, at which it lends to commercial banks, would remain at 8.0 per cent, while the cash reserve ratio -- the sum commercial banks keep on deposit -- was also unchanged at 4.75 per cent.
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