India's central bank cuts lending rate to 4% to aid economy

An Indian laborer walks with his bicycle past a bread shop before it opens in the morning in Kochi, Kerala state, India, Friday, May 22, 2020. India's central bank on Friday cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. (AP Photo/R S Iyer)

People walk past a market area in Kohima, capital of the northeastern Indian state of Nagaland, Friday, May 22, 2020. India’s central bank on Friday cut its key interest rate to 4% to counter the blow to the economy from the coronavirus pandemic and a lockdown meant to contain it. The restrictions are scheduled to last through the end of May, but some have been relaxed, with shops gradually reopening and manufacturing and farming resuming. (AP Photo/Yirmiyan Arthur)

Indian laborers wearing masks arrive for work in the morning in Kochi, Kerala state, India, Friday, May 22, 2020. India's central bank on Friday cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. (AP Photo/R S Iyer)

Electricity board workers hold placards in solidarity with Friday's nationwide trade union protest before starting the day's work in Kochi, Kerala state, India, Friday, May 22, 2020. India's central bank on Friday cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. (AP Photo/R S Iyer)

FILE - In this Aug. 7, 2019, file photo, Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference in Mumbai, India. India’s central bank on Friday, May 22, 2020, cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. Reserve Bank of India Governor Das also said India's gross domestic product in financial 2020-21 was expected to have negative growth. (AP Photo/Rajanish Kakade, File)