RBI slashes lending rate by 35 bps to 5.40%
The RBI also slashed the growth rate for FY2019-20 in an apparent slowdown of India’s economy.
by news
•
August 7, 2019
The RBI also slashed the growth rate for FY2019-20 in an apparent slowdown of India’s economy.
Google seeks to revamp its online shopping space in a bid to compete with Amazon.
The RBI has cited weakening domestic and demand conditions as reasons for the reduced forecast.
The RBI is expected to go for a 25 basis points rate cut amid a slowdown of the Indian economy.
Sensex is currently trading at 36,908.08 after touching a high of 37, 037.60.
The Indian rupee closed at 70.82 per USD as opposed to its previous close of 70.7350 per USD.
The dollar index rose after China’s announcement that it would not use currency as a trading tool.
The early trade saw Sensex and Nifty slump, amidst US-China trade war and Kashmir decision.