RBI hopeful of bringing down inflation to 6% by 2016

Reserve Bank of India (RBI) Governor Raghuram Rajan said India is seeing a pick-up in economic growth although more could be done to support that on a sustainable basis, while noting inflation was also easing.

"The bottom line is we do seem to be picking up on growth and inflation is easing," he told students at a business school in Hyderabad in southern India.

Rajan added "many" market participants were convinced that India could hit the RBI's target of bringing down consumer inflation to 6 percent by January 2016.