Indian state-run companies are set to borrow nearly $2 billion via the bond market early next week after the central bank cut interest rates for the first time in nearly five years. Four state-run firms REC,

India's central bank has cut interest rates for the first time in nearly five years to counter slowing growth in Asia's third largest economy. The Reserve Bank of India (RBI) reduced its repo rate from 6.5% to 6.25%, in line with the expectations of many economists.

Sen. Bernie Sanders of Vermont and Sen. Josh Hawley, a Republican from Missouri, introduced legislation to cap credit card interest rates at 10%.

Factors like your debt-to-income ratio, your income and existing debt all influence the interest rate on your credit card. And consumers who are considered high-risk are approved with a higher interest rate as a way for banks and issuers to compensate for the possibility of default.

Senators Bernie Sanders and Josh Hawley introduced new legislation that would cap interest rates on credit cards at 10% to fulfill one of President Trump's campaign promises.