Given the jump in June inflation and, more important, the Met sticking to its drought forecast – 12% shortfall in monsoon, with just 11 of the country’s 36 sub-divisions getting normal rain so far – it is not surprising Reserve Bank of India ( RBI ) Governor Raghuram Rajan has chosen to play cautious in its monetary policy review and not cut repo rate.
employer: Raghuram Rajan, Reserve Bank of India