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RBI slashes GDP growth forecast to 5% deepest cut in a decade

Friday, December 6, 2019, 8:17 AM

While maintaining the status quo in its bi-monthly monetary policy review, the Reserve Bank of India on Thursday revised GDP growth downwards to 5 per cent for 2019-20 from 6.1 per cent projected in its October policy. The central bank, however, kept the policy rates unchanged at 5.15 per cent and decided to main accommodative stance to support the economy.
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