India’s central bank projects full-year inflation under 3.7%, raising prospects of rate cuts as food prices ease sharply.

• June retail inflation hit 2.10%, the lowest in six years, nearing the RBI’s lower tolerance band, supporting a dovish outlook.
• RBI to weigh inflation trends, not just latest data, for upcoming rate decisions, Governor Malhotra told CNBC.
• Bank ownership rule review underway as RBI monitors sector reforms alongside focus on inflation and monetary policy.