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India cuts key rates in surprise move to ease coronavirus shock

Economic growth to 'remain in negative territory' this year, says central bank

Shaktikanta Das, governor of the Reserve Bank of India, announced a surprise rate cut of four-tenths of a percentage point in hopes of easing the economic pain of the coronavirus.   © Reuters

NEW DELHI -- The Reserve Bank of India on Friday cut its benchmark interest rate 40 basis points to 4%, in a surprise move, as the novel coronavirus pandemic jolts the country's economy.

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