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India raises interest rate on small saving schemes

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India has raised the interest rates on smalls saving schemes for the December quarter, a government statement said on Thursday, after the Reserve Bank of India (RBI) raised interest rates last month.The central bank in August raised interest rates for the second straight meeting, but retained its "neutral" stance as it aimed to contain inflation while not choking growth. (Reporting by Manoj Kumar; Editing by Malini Menon)(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 20 2018. 11:52 IST