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RBI cuts rates for third time this year to support India's growth

Central bank warns of more cuts later this year amid forecasts of below-average monsoon season
Wednesday, June 3, 2015 - 05:50
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"We still have very weak investment," Mr Rajan said, adding that there were factors to suggest that economic growth was weaker than the headline numbers made out.

Mumbai

INDIA'S central bank cut interest rates for a third time this year on Tuesday, taking advantage of subdued inflation to lend more support to an economy that the bank itself says is not doing as well as latest impressive growth numbers suggest. The Reserve Bank of India (RBI) also