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

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 Aug 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.

(Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam)