An adverse south-west monsoon, if it materialises, could weigh on India’s growth and inflation outlook, the Reserve Bank of India (RBI) said in its June Bulletin. The central bank noted that the global economic landscape remains fragile despite some relief from the interim US-Iran peace agreement. “Any breakdown of the agreement may reignite material risks in terms of inflationary expectations, disrupted critical energy infrastructure, delayed investment spending, food security concerns, adverse financial stability outlook and structurally lower growth,” the RBI said.