Mostly expected, the Reserve Bank of India cut its benchmark rate 25 basis points to 7.75%...

|By:, SA News Editor

Mostly expected, the Reserve Bank of India cut its benchmark rate 25 basis points to 7.75% overnight. At the same time, the bank also lowered its forecasts for growth and inflation. "It is critical now to arrest the loss of growth momentum without endangering external stability." EPI -0.6% premarket.