The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday but cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions as economic growth slows.

Major central banks around the world have kicked off a global easing cycle in response to lower inflation -- including the US Federal Reserve, which in September cut rates for the first time in four y

The Reserve Bank of India kept its policy rate unchanged as it walks the line between curbing inflation and boosting growth after a surprisingly weak quarter.