The reversal of FII flows would also stem the _____________ in emerging market currencies. With the rupee stabilising and the US Fed’s rate hike decision behind, the RBI would now be less constrained in easing rates in India. India is among the few large economies that can offer monetary _____________ to aid growth. The rate cuts, I believe, may not necessarily wait for scheduled policy announcements. Over the next three months, I would expect RBI to cut rates by 50 basis points. This _____________ some pressure on debt servicing, and will also have a positive _____________ on retail credit in the second half of FY16.