The recent policy reforms by India's government, lower price of oil and strengthening of the rupee are all positive factors for the RBI to consider in its Oct 30 policy meeting, said Subir Gokarn, deputy governor of India's central bank at an event in New York. While declining any direct statement on policy, Gokarn indicated that he is concerned that the focus on fighting inflation may hurt growth. Last week, the RBI left rates unchanged disappointing market participants who had expected a cut in policy rates. The government, in turn, indicated that it would do all it can so that RBI can lower borrowing costs. India's repo rate is at 8%.
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