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Monday, Sep 17
2012, 4:34 AM
India's central bank holds its benchmark lending rate unchanged and lowers cash reserve...
India's central bank holds its benchmark lending rate unchanged and lowers cash reserve requirements for banks, keeping a focus on inflation fighting even as the economy turns down. The RBI thinks liquidity coming from global easing could press oil prices higher - India imports three-quarters of its crude needs - and now falls into step with other South Asian central banks in holding rates even.