Soumya Kanti Ghosh says RBI unlikely to hike rates soon

Business Jun 15, 2026

Soumya Kanti Ghosh, State Bank of India's top economic adviser, doesn't expect the Reserve Bank of India to raise interest rates any time soon.
He points out that the Reserve Bank of India is sticking to a wait and watch approach because India's economy is actually doing better than expected: both inflation and GDP growth are looking solid.

SBI forecasts 6.6% growth, 5.1% inflation

Ghosh highlights that strong GDP numbers, low inflation, and a steady current account mean there's no rush for policy changes.
He also mentions outside factors like monsoons and oil prices could influence what happens next.
For now, State Bank of India expects India's economy to grow by 6.6% for the current fiscal year, with inflation at 5.1%.