RBI's monetary policy: Will there be a rate cut?

The Reserve Bank of India's (RBI) monetary policy panel is set to meet on the second of April for its two day policy meeting and is expected to announce its rate decision on the fourth of April. The monetary policy committee (MPC) is meeting against the backdrop of the third quarter gross domestic product (GDP) data, which showed that India's growth moderated to 6.6 percent, which is the slowest pace in five quarters. As growth concerns weigh, the clamour for a rate cut is growing. In fact, four out five members of the CNBC-TV18’s Citizen’s Monetary Policy panel have voted in favour of a cut ahead of the RBI's rate decision next week. Former adviser of the Planning Commission, Pronab Sen, Sonal Varma of Nomura, Soumya Kanti Ghosh of State Bank of India (SBI), Sajjid Chinoy of JP Morgan and Samiran Chakraborty of Citi discussed this.