Indian auto shares slump after cenbank policy


MUMBAI, July 29 (Reuters) - Shares in India's top vehicle makers slumped on Tuesday after the central bank tightened policy more aggressively than expected, raising concerns that interest rates on vehicle loans will rise further and slow demand. The central bank on Tuesday raised its key lending rate for the third time in two months, taking it to 9 percent, its highest in seven years, to help check inflation from near 12 percent. It also increased banks' reserve requirements. For details ...

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