Following normal monsoon forecast, the Reserve Bank of India is expected to go for a 25 basis points rate cut in key rates in its policy review meet in August, says a report. According to a Bank of America Merrill Lynch, normal rains should help to push rural demand, especially after a relatively poor rabi harvest. “We grow more confident of our call of a 25 bps RBI rate cut on August 1 after the India Met forecast? a normal south-west monsoon at 97 per cent of long period average,” the global financial services major said in a research note.

Source - https://www.financialexpress.com