India Cuts Rate By 25 Bps For Third Time

India's central bank resorted to a quarter-point reduction in interest rate on Thursday, the third in a row, that took it to the lowest level since 2010, and tweaked its stance of monetary policy to accommodative from neutral. Citing weak growth impulses, policymakers of the Reserve Bank of India unanimously decided to slash the repo rate by 25 basis points to 5.75 percent from 6.00 percent.