India's status as the fastest-growing major economy isn't impressing everyone. The country's central bank sprung a surprise on Friday, slashing the key policy rate by 50 basis points and the cash reserve ratio for lenders by twice as much. Under new Governor Sanjay Malhotra, the Reserve Bank of India is putting more emphasis on supporting GDP. That's fine so long as it can fulfil its inflation-targeting mandate when the need arises.[....]