India’s central bank cuts lending rate to 6%

Business 04/04/19, 06:20

India's central bank cut its key interest rate by a quarter of a percentage point to 6% on Thursday, moving to prop up economic growth ahead of a national election next week.The interest rate is what the federal bank charges on lending to commercial banks.Lower interest rates help borrowers, though ...

India’s central bank lowers key lending rate to 6.25 percent

Business 02/07/19, 03:20

India's central bank on Thursday lowered its key interest rate by a quarter of a percentage point to 6.25 percent, a step that is expected to boost the economy. The interest rate is what the federal bank charges on lending to commercial banks. Lower interest rates help borrowers but can also ...

Head of India’s central bank resigns amid government split

Business 12/10/18, 08:07

The head of India's central bank resigned Monday amid a growing split between the Indian government and the independent monetary policy authority.Reserve Bank of India Gov. Urjit Patel said in a statement posted on the bank's website that he was resigning for personal reasons.The government of Prime Minister Narendra Modi ...

Payments companies hit deadline for keeping data in India

Business 10/16/18, 09:30

Global credit card and payments companies like American Express, Visa and MasterCard are facing a challenge in meeting a requirement to store transaction data for all Indian customers within the country.A new rule took effect Tuesday that directs payment companies to store all transaction data on computers inside the country.Enacted ...

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