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Economy

RBI has stood pat as it waited to assess the impact of volatile oil prices on the world’s fastest-growing major economy. But resilient GDP growth last quarter has allowed it to focus on higher costs in a country that imports most of its energy and has been hit by a weak monsoon that could result in a spike in food prices.

India’s central bank hiked interest rates for the first time in more than three years on Wednesday as the Middle East conflict stokes inflation in Asia’s third-largest economy and batters a weakened r...

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