Recovery starts in India’s economy

subbarao-reservebankofindia

Duvvuri Subbarao, the governor of the Reserve Bank of India, said he would keep policy interest rates unchanged after noting signs of recovery in both the domestic and international economy, though inflation was rising at a higher than expected rate.

India's financial markets responded negatively to Subbarao's comments about inflation with the Bombay stock exchange's Sensex index closing at 16,353 a fall of 2.3% on the day before.

The RBI Second Quarter Review of Monetary Policy, published yeste

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