India core inflation lower than expectation: RBI

RBI on Tuesday warned that there was limited scope for more cuts

India's core inflation of 4.7% in March was below the Reserve Bank of India's expectations, Governor Duvvuri Subbarao said on Wednesday.

The central bank cut rates on Tuesday by an unexpectedly sharp 50 basis points to boost the sagging economy, but warned there was limited scope for more cuts.

The governor was speaking in a conference call with analysts a day after its policy statement.