RBI interest rate cut to help revive investment: Pranab

The Reserve Bank of India's (RBI) decision to cut its key interest rate, by an unexpectedly sharp 50 basis points, will help revive investment, finance minister Pranab Mukherjee said on Tuesday. The RBI cut interest rates on Tuesday for the first time in three years, lowering its policy repo rate to 8.00%, in a bid to revive a slowing economy.