India's central bank holds its benchmark lending rate unchanged and lowers cash reserve...

|By:, SA News Editor

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.