India expected to hold rates despite pressure

India’s central bank is expected to keep interest rates on hold Tuesday, despite mounting pressure from bankers and industry for a cut to revive the flagging economy.

The Reserve Bank of India has kept rates steady since April -- when it cut them for the first time in three years -- saying inflation must fall and the ballooning fiscal deficit needs to be curbed before it eases borrowing costs.

via Business feed http://www.scmp.com/business/banking-finance/article/1107325/india-expected-hold-rates-despite-pressure