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Wednesday, August 21, 2019

Signs of weakening of service sector: RBI guv

RBI governor Shaktikanta Das had highlighted several indicators of a slowdown in the economy while supporting his argument for an aggressive cut of 35 basis points (100bps = 1 percentage point) in the repo rate. This, even as two of the three external members of the monetary policy committee (MPC) voted for a more modest 25bps cut.

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