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Lenders drive recovery after central bank slashes rates

MUMBAI (NewsRise) -- Indian shares rebounded Tuesday, even as Asian markets fell sharply on fresh China growth worries, as lenders surged after the nation's central bank slashed interest rates by a wider-than-expected margin.

     The Reserve Bank of India cut interest rates by a higher-than-expected 50 basis points, citing cooling inflation, concerns of a global economic slowdown and the U.S. Federal Reserve's decision to delay rate increases.

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