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Saturday, May 25, 2013 | 6:37 p.m.

India Rate Cut "a Step in the Right Direction"

In an interview with Reuters Television, the Indian finance minister Palaniappan Chidambaram said the central bank's move was a step in the right direction. On Tuesday it cut interest rates by 25 basis points to 4.00 percent as it fights the country's slowest growth in a decade.
 
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