A modest overshoot in recent inflation outruns is outweighed by downside risks to RBI's growth estimates.
If the consensus is right, inflation will come in below the RBI’s medium-term target for 14 months in a row.
Chibber took over the bank's reins for three months in June following the removal of Parvez Ahmed from the post by the state govt.
Shares of the private sector lender rose 4.15 per cent to Rs 43.85 on the BSE.
RBI will continue accommodative stance as long as it is necessary and growth revives, said RBI Gov Shaktikanta Das.
The repo rate has been brought down to 5.15 per cent to help reduce borrowing costs for home and auto loans.
The IHS Markit India Services Business Activity Index fell to 48.7 in September from 52.4 in August.
RBI Governor Shaktikanta Das has already hinted further monetary policy easing while space for fiscal space is limited.
ICAI on Wednesday said it has triggered its disciplinary mechanism and has written to the bank as well as regulatory agencies.
With current inflation remaining benign, we expect RBI to opt for a 40 bps rate cut, said Yes Bank's Yuvika Oberoi.