RBI focused on growth, likely to keep rates unchanged on April 8: Analysts

Economists expect the RBI to raise its retail-inflation projection for the fiscal year starting on Friday by 50 to 80 basis points from 4.5%.

Inflation is picking up in India, but the country's central bank is likely to maintain its loose policy even as its global peers raise rates, potentially forcing it to play catch-up aggressively later, economists and analysts say.

This view represents a shift in expectations, as market participants say the Reserve Bank of India is concerned that Russia's invasion of Ukraine is damaging the global economy and India's recovery prospects, not just boosting prices.

A Reuters poll in early February found just over half of forecasters expecting the RBI to raise rates at its April meeting, but the war launched three weeks later