The Reserve Bank of India (RBI) has no plans to loosen interest rates as inflation continues to be the top priority.

RBI Governor Shaktikanta Das, speaking to reporters on Friday, clarified that the inclusion of “over tightening” in his statement while announcing the fifth consecutive status quo in rates, should not be construed as anything else.

A "loosening" in rates is not on the table, Das said.

Making it clear that inflation is the top priority for the central bank, Das said a few months of satisfactory data -- the headline number dropped to 4.87% in October -- should not lead to any complacency and added that we have a long way to cover on inflation management, news agency PTI reported.

Deputy Governor Michael Patra said looking at the economic growth in the first half and the high-frequency data for October and November, the upward revision in FY24 GDP growth rate at 7% is a “conservative estimate”.

The Governor said it is very difficult to give a forward guidance on the policy, terming the future as “very fickle” where any shock can hit any economy.

Das also said that at present, foreign investors and regulators have a growing confidence in our economy.