The efficacy of two latest versions of regional climate models (RegCM and WRF) for simulating the Indian summer monsoon (JJAS) is tested in this study. The CFSv2 hindcast outputs are downscaled over the Indian monsoon domain for 11 contrasting monsoon seasons using the regional models. The April start ensembles of the CFSv2 are averaged to generate the initial and lateral boundary conditions for driving the WRF and RegCM. The regional models perform better in simulating the Indian summer monsoon features better than the parent CFSv2 model. The rainfall pattern as well as the intensities are improved with the dynamical downscaling and the errors in the rainfall are minimized over the GCM hindcast. On comparing the two regional models, the RegCM overestimates the rainfall during the excess and normal monsoon seasons. The RCMs improve the skill of rainfall prediction as compared to the GCM and WRF shows better skill in particular. One peculiar finding of this study is that the daily rainfall biases averaged over all the years of simulation shows that the two RCMs show similar biases with RegCM showing stronger biases occasionally. It may be implied that the errors from GCM in the form of the ICBC might be influencing the simulation in the RCMs. The upper air and surface parameters analysis shows that the WRF performs better in representing the meridional overturning of the lower atmospheric circulation, monsoon trough and the heat low over north western India which are prominent features of the semi-permanent features of the Indian summer monsoon which may be helping in improving the rainfall over the RegCM. The wind pattern as well as the relative humidity along the vertical column of the atmosphere are captured better in the WRF model. Diagnostics of CAPE & vertically integrated moisture transport supports the finding of the rainfall being simulated better in the WRF model.