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Economy

India slashes rates to decade-low level to ease coronavirus impact

Surprise move comes with three-month nationwide loan moratorium

Reserve Bank of India Gov. Shaktikanta Das has stepped in to reduce the economic fallout from the COVID-19 pandemic.   © Reuters

NEW DELHI -- The Reserve Bank of India on Friday cut the benchmark interest rates by 75 basis points to 4.40% in a surprise move that comes amid concerns over economic fallout from the global outbreak of COVID-19.

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