New Delhi, July 15 -- The Reserve Bank of India (RBI) may plan to cut interest rates further if inflation goes below its projection or growth comes under pressure, Governor Sanjay Malhotra stated.

"The monetary policy committee will always factor in the evolving situation, the outlook, and then decide what the economy really needs," Malhotra said during an interview with CNBC-TV18 on Tuesday. "Certainly, the policy rates can be cut" if inflation falls below the central bank's forecast or growth stays weak, he noted.

Although price stability remains the central bank's main goal, growth is also an important factor. In its June monetary policy meeting, the central bank reduced its key rate significantly to support India's slowing economy. ...