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India’s Central Bank Cuts Interest Rate to Spur Growth

India’s Central Bank has cut interest rates to spur investment in the country, which is now the world’s fastest growing major economy. There is more optimism about the Indian economy a year after Prime Minister Narendra Modi took office, but experts remain cautious about the future. The rate cut of a quarter percentage point announced Tuesday will enable banks to borrow from the Central Bank at 7.25 percent. It is the third cut this year and has been prompted by...

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