India Cuts Lending Rate as Modi Faces Economic Challenges


MUMBAI—India’s central bank cut its key lending rate as Prime Minister Narendra Modi begins his second term in office trying to boost a slowing economy.

Mr. Modi’s Bharatiya Janata Party won national elections last month, securing him a larger majority and a second five-year term.

India’s growth slowed to 5.8% last quarter on lower consumer…

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