|  NEWS

The Reserve Bank of India will be cutting interest rates again so to help boost the country’s economy. This will be the fourth interest cut rate to take place this year. 

India’s central bank stated that the interest rate cut, which will take the country’s key lending key rates to a new low, is required to improve the economic situation and growth. The cut will also help the private investments in India.  

Responsible of India’s rate cuts is the Reserve Bank of India’s current governor, Shaktikanta Das, who has been in this position since December 2018. The loans given out by the Reserve Bank of India have a 5.4% reduction on their interest rates. The interest rates in India have not been this low since April 2010. Moreover, the interest rates are expected to be lowered further in October 2019. 

India’s economy has not been very strong this year, seeing its GDP fall to 5.8% in Q1. Issues with consumer finance providers and the credit squeeze that followed the country’s general election are thought to be the main reasons for the economy’s growth at a slower pace. 

Moreover, the ongoing trade war dispute between the U.S. and China has affected the global economy, thus also influencing India’s economy. 
 

Blog Category Icon

Category

Tags

  • RBI,
  • Interest rate cuts,
  • Central bank,
  • India

News you might like

Media contact

deVere India’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines. Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere India’s Head of Public Relations on [email protected] or call +44 2071220925