Mumbai, April 9 -- The Reserve Bank of India (RBI) is concerned about the impact of the ongoing tariff war, governor Sanjay Malhotra said, on a day it reduced the benchmark lending rate and eased its monetary policy stance.

India may grow slower than previously expected this fiscal year, the central bank's monetary policy committee (MPC) said, at a time the world is bracing for a slowdown resulting from trade tensions. The committee shifted gears to support growth with a 25 basis repo rate cut and change in policy stance to accommodative, as inflation risks recede and US tariffs trigger global uncertainties.

"We have reduced the growth rate (outlook) by 20 basis points this year primarily arising out of the uncertainties," Malhotra said...