The Reserve Bank of India lowers GDP growth forecast to 7%

MUMBAI, Jan. 27 (Chinese media) -- The Reserve Bank of India (RBI) on Tuesday lowered India's economic growth forecast to 7 percent, saying the global economic crisis has hit Indian shores, according to the website of RBI.

But the bank has kept its key policy rates and ratio unchanged,

The bank also lowered inflation estimates to 3 percent by Marchend.

The RBI left its lending rate steady at 5.5 percent and its reverse repo rate unchanged at 4.0 percent.

The RBI also kept the cash reserve ratio, the amount of funds banks have to keep on deposit with it, unchanged at 5.0 percent.