The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points (bps) on Friday, a third consecutive reduction, and slashed the reserve ratio for banks as muted inflation provided space for policymakers to focus on supporting economic growth.

India's central bank cut interest rates more than expected on Friday, citing muted inflation and a need to kickstart economic growth as the impact of US tariffs weighed on the country's outlook."This changed growth inflation dynamics calls for not only continuing with the policy easing,

MUMBAI -- The Reserve Bank of India on Wednesday slashed its key policy rate to its lowest level in nearly three years, instituting a third consecutive rate reduction as tepid inflation allowed the bank to focus on spurring economic growth.