0626 GMT - The Reserve Bank of India's pace of rate adjustments is likely to remain moderate and data-dependent, hinging on global oil prices, monsoon outcomes and market conditions, says Ajitabh Bharti at CapitalXB. The central bank's statement acknowledges that external shocks such as U.S.-Iran tensions and global rate increases could pressure the rupee and import costs, the executive director and co-founder says in an email. With nearly half of the inflation basket seeing price rises of 4% or more, and risks of inflation breaching the 6% tolerance band in the December quarter, Wednesday's pre-emptive tightening was prudent, he says.