RBI chief: Property prices have not fallen enough

Reserve Bank of India's (RBI) Governor Duvvuri Subbarao poses for photographers before a meeting with bankers at the head office in Mumbai October 27, 2009. REUTERS/Arko Datta

MUMBAI (Reuters) - Indian commercial real estate prices have not fallen enough, Reserve Bank Governor Duvvuri Subbarao said on Tuesday.

He was speaking to reporters after the Reserve Bank’s quarterly monetary policy review, where it kept key rates unchanged but tightened credit to the commercial property sector, lifted its inflation forecast and warned of a threat of asset price bubbles.

(Reporting by Neha D’Silva and Swati Bhat; Editing by Jarshad Kakkrakandy)

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