By Anshul Choudhary MUMBAI – The Reserve Bank of India Friday delivered its first interest rate cut in nearly five years and also raised hope of more to follow. However, the only positive the equity market saw in this was that this was the beginning of a deeper rate cut cycle that is needed to spur growth. Benchmark indices ended slightly lower, partly as the rate cut was already factored in by the market, but mainly because even with more rate cuts, growth will take a while to pick up. Indeed, the RBI cut its own Apr-Jun growth forecast to 6.7% from 6.9% and the forecast for Jul-Sept to 7.0% from 7.3%. It estimates GDP will grow at 6.7% in 2025-26 (Apr-Mar), slightly better than the 6.4% growth now expected in FY25, but significantly lower than the 8.2% growth in FY24.
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