Indian inflation "unacceptably high": Reddy

Y.V. Reddy, the governor of the Reserve Bank of India, has said that the institution is ready to act on inflation, which hit a fresh three-year high at the end of March.

"The level of inflation is unacceptable to us and it is higher than our tolerance limit," Reddy told CNBC, a news channel, on Tuesday. "While this situation requires constant monitoring, any action, any time that is required will have to be taken."

Wholesale price inflation, a measure of factory-gate costs which is more widel