Auto cos slash production to drive through slowdown

The crisis in the auto sector is deepening and leading companies are going for production cut to drive through the slowdown

No need for pessimism over 5% growth, says FM

India's finance minister Nirmala Sitharaman said that there was no need for unnecessary pessimism as far as 5% GDP growth is concerned

In a move that should make mortgages, auto loans and other borrowings cheaper, Reserve Bank of India cut interest rates by 25 basis points for the third time this year and hinted at more cuts by changing its policy stance from “neutral” to “accommodative”



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