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India Raises Reserve Requirement More Than Expected

"Jan. 29 (Bloomberg) -- The Reserve Bank of India told lenders to set aside more deposits as reserves than economists predicted after raising its growth and inflation forecasts. Stocks and bonds fell...The decision is India’s biggest step yet toward raising borrowing costs as inflation and asset-bubble concerns reverberate across Asia...The MSCI Asia Pacific index has lost 7.3 percent in the past two weeks."