RBI governor Raghuram Rajan stuck to the script and cut benchmark interest rate by 25 basis points, in line with market expectations. But his cautious commentary on inflation spooked the investor sentiment. RBI raised the red flag over poor rains and reduced the growth forecast for FY16 to 7.6% Here’s a detailed report and conversation with Mythili Bhusnurmath on the double whammy over price rise and rain drain, and the meltdown in equities thereafter. Listen in
