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Consumer cutbacks due to raging inflation and higher borrowing costs are failing to dent investment plans at Indian businesses tapping the country's biggest lender, a sign that a recovery in Asias third-largest economy is gathering pace.

Dinesh kumar kharaState bankBloomberg newsReserve bankOnly needState bank of indiaIndia economic recoveryRaging inflationHigher borrowing costsHigher interest rateHigher interest loansIndian businessRobust economic recoverySurging inflation not denting demand for borrowing