RBI chief Rajan: unsure if monetary policy panel to set rates in August

MUMBAI (Reuters) - The process to set up India's monetary policy committee is ongoing and it is not clear if it will get to set interest rates at the central bank's next policy review on Aug. 9, Reserve Bank of India (RBI) Governor Raghuram Rajan said according to TV channels.

India is in the midst of putting in place a six-member monetary policy committee that will be tasked with deciding interest rates.

(Reporting by Suvashree Dey Choudhury; Editing by Rafael Nam)