After the decline in retail inflation in February to 3.6 per cent, the March inflation print is also trending below the RBI's 4 per cent target which is likely to lead to another rate cut by the central bank next month,

The RBI’s recent repo rate cut to 6.25% is expected to lower borrowing costs for personal and home loan borrowers. Several banks have already revised their interest rates, making loans more affordable for consumers.

India's retail inflation fell below 4% in February for the first time in six months mainly due to a decline in vegetable prices, giving the central bank room to cut rates further in coming meetings.