The Reserve Bank of India (RBI) logo is displayed outside of the bank's headquarters in Mumbai, India, on Tuesday, Aug. 9, 2011.
Asia-Pacific markets were mixed on Thursday as Wall Street digested the latest ADP private payrolls report, which showed slowing job growth in March.
India's central bank is also expected to raise its repurchase rate by 25 basis points to 6.75%, according to economists polled by Reuters.
Hong Kong's Hang Seng index, looked set to trade higher, with Hang Seng futures at 20,421 compared to Tuesday's close of 20,274.59.
Japan will release data for its household spending for February, and China will see private surveys on its services sector activity as well.