The Reserve Bank of India (RBI) is likely to keep its benchmark repo interest rate unchanged at a five-year low of 6.50 percent at a policy review on Tuesday, according to all but one of the 44 economists polled by Reuters this week.
The survey forecast just one more rate cut in the coming year, with most expecting the Reserve Bank of India to cut by 25 basis points to 6.25 percent in the July-September quarter, and thereafter hold steady until at least until the end of the third quarter next year. The poll also showed the RBI was expected to hold banks' cash reserve ratio steady at 4 percent, and also leave it unchanged until at least September 2017.
The RBI embarked on an easing cycle in January last year that had helped fuel consumer spending - one of the factors behind India's faster-than-expected 7.9 percent year-on-year economic growth in the quarter through March.
The world's fastest growing big economy is expected to benefit from good rains forecast for this year, after two successive years of drought
The RBI embarked on an easing cycle in January last year that had helped fuel consumer spending - one of the factors behind India's faster-than-expected 7.9 percent year-on-year economic growth in the quarter through March. 
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