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MUMBAI, July 31: India's central bank on Tuesday warned inflation was still a risk and hiked its cash reserve ratio for banks by 50 basis points to seven per cent but kept short-term borrowing rates unchanged.
The Reserve Bank of India said in a quarterly review that while inflation had fallen below its five per cent forecast for the year to March 2008 from nearly seven per cent earlier this year, commodity and asset price rises remained a concern.—AFP
