India rates not too high to hurt growth: RBI

Mumbai: Interest rates in India are not too high to affect growth, Reserve Bank of India deputy governor K.C. Chakrabarty said on Friday.

The country’s economy grew 5.3% in the March quarter, its lowest level in nine years.

Most economists in a recent Reuters poll expect the central bank to cut its key interest rate by at least 25 basis points on 18 June at the mid-quarter review of the monetary policy.