The policymaker said the RBI had not reached the point where specific actions were under consideration.
Consumer food price inflation, under a new series published by the government, eased to 5.59 per cent last month from 7.67 per cent in September.
Despite no change in interest rates, India's largest lender, State Bank of India, last week became among the latest to lower deposit rates, often a precursor to lower lending rates, something some banks have already done for certain consumer loans.
Based on the estimate, a courier bringing in 1 kg of gold currently worth around $40,000 at world prices could earn $470 if not caught.
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Companies are legally allowed to invest in markets in India, but the practice has seldom stirred central bank concern until recently, when they have become much more active players.
The country has produced a record harvest, but many farmers in the onion bowl of Maharashtra have lost a large share of their crop damaged in storage, adding to the country's inflation woes.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
Monsoon rains are vital for 55 per cent of the country's farmlands that lack irrigation facilities.
The govt is increasing the duty to 15 per cent from the existing 10 per cent.
A govt report on Wednesday recommended reining in gold imports to curb deficit.
Prices have more than doubled in three months.
Though retail demand was weak, jewellers were restocking for Pongal festival.
It was trading around Rs 30,638 per 10 grams, the lowest since August 30.
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