Unsure if monetary policy panel to set rates in August: Raghuram Rajan

The process to set up India's monetary policy committee is ongoing and it is not clear if it will get to set interest rates at the central bank's next policy review on August 9, Reserve Bank of

India (RBI) Governor Raghuram Rajan said according to TV channels.

India is in the midst of putting in place a six-member monetary policy committee that will be tasked with deciding interest rates.