Urjit Patel took over as governor of the Reserve Bank of India in October (Image credit:REUTERS)

India surprises by holding rates at six-year low

India's central bank has unexpectedly held interest rates at a six-year low.
The cost of borrowing will remain unchanged at 6.25% ahead of a possible increase in US interest rates later this month.
The decision came as the Reserve Bank of India (RBI) held its first press conference since new bank notes were introduced.
The BBC was one of several media organisations prevented from attending the briefing.
The central bank blamed a decision to move the press conference to a small venue...Read more...

Source: bbc.com