The Reserve Bank of India (RBI) will be announcing its third bimonthly credit policy meet on August 4. ''The policy rate cut by the RBI in its third bi-monthly policy appears bleak. RBI is likely to maintain status quo on rates in its bi-monthly policy meet on August 4," said Export-Import Bank of India (Exim Bank).

Exim Bank said, "The rising trend in inflation observed during the last two months and the rainfall deficits are expected to weigh over the considerations of weak economic performance (slack IIP, Trade, Investment numbers and Bank Credit offtake)."

Earlier, the RBI in its second bi-monthly monetary policy in June 2015 had cut policy (repo) rates by 25 basis points, the third rate cut in 2015. All other policy tools like cash reserve ratio and statutory liquidity ratio remained unchanged in the second review.

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