The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5%, with a 5:1 majority, and shifted its monetary policy stance to 'neutral' from 'withdrawal of accommodation.' This has sparked speculation about a potential rate cut in the December policy meeting. Rumki Majumdar, Economist at Deloitte India, believes a rate cut in December is possible but notes that the next couple of months will be critical. She highlights that while overall CPI inflation has dipped below 4%, rural inflation remains high at 4.2%, driven by persistently high food prices. Majumdar points out that rural demand is beginning to show signs of recovery, but the RBI will closely monitor food and commodity price movements in the coming months. Additionally, she emphasizes the importance of global factors, particularly the U.S. Federal Reserve's actions, which could influence India's inflation and import costs. All these factors will play a crucial role in shaping the RBI's decision in December.