In the majority of instances analysts said that India's central bank was expected to keep interest rates on hold on Monday with important relations over the rupee trading near record lows likely to exceed in value of the fall in inflation. The central bank has slashed borrowing rates three times since the start of 2013 to try to kickstart an economy which has been growing at five percent making it a decade low.

On the contrary having the rupee just above lifetime lows, an elevating up current account deficit along with the narrowly based retail inflation index at near double digits, analysts expressed a rate slash at Monday's central bank meeting was marked by doubt.

CLSA economist Rajeev Malik expressed that they expect no action from the Reserve Bank of India this time. Another prominent factor that there are burden in regard to the rupee.

Image Source: Central Bank of India

(AW:Samrat Biswas)