India’s central bank announced a series of emergency measures on Saturday to stimulate growth and boost business confidence, which has been hit further after terrorists launched one of the worst attacks in India’s history last week.

The Reserve Bank of India cut the repo rate by 100 basis points, pushing the key short-term interest rate to its lowest level in two-and-a-half years, and it cut the reverse repo rate, used to absorb cash from the market, by 1 percentage point to 5 per cent.