The monsoon rainfall moved to normal and the reservoir level of large river basins into significant surplus, a Kotak report said on Friday.
However, it added that rainfall has been weak in eastern and northern India.
The report stated the overall status of rainfall among the 36 sub-divisions across India had nine of them receiving deficient rainfall, 19 normal, and eight with excess rainfall.
"Till August 14, cumulative rainfall was 0.1 per cent above long-term average with the weekly rainfall 45.1 per cent above long-term average, due to heavy rainfall across western and central India," the report stated.
But the sowing status was still lower than last year, Kotak noted. "As of August 8, the total kharif acreage was 5.3 per cent lower than the same period last year," the report said.
Of the larger river basins, report says, that Indus, Godavari, Kaveri, Krishna, and Narmada rivers were in surplus while Ganga and Mahanadi were in deficit.
Overall, basins and reservoirs were around 22 per cent above long-term average for week ending August 15.