India's central bank cuts rates more than expected to boost growth

India's central bank cuts rates more than expected to boost growth

India's central bank cuts interest rates more than expected, citing muted inflation and a need to kickstart economic growth as the impact of US tariffs weighs on the country's outlook.

The Reserve Bank of India lowers the benchmark repo rate, the level at which it lends to commercial banks, by 50 basis points to 5.5 percent.