Is not raising interest rates many times over impacting growth rate of economy with no impact on inflation?

The RBI's endeavour to arrest inflationary tendencies by raising interest rates many times over in the recent months have had no impact on limiting or reducing the inflation for which it was intended but to the contrary, it has come in the way of economical growth of the country. The cash requirement of the industry has certain factors, in which less interests on their loaned amount also counts. If it is enhanced to a level where it is not prudent because goods produced from that high interest rate amount may have to be sold at high rate. With present inflationary pressure already impacting, the propensity of the general mes to purchase goods and services produced has certain limitations. Their take home income is less and expenditure it entails is more then, there a is dilemma. Inflationary pressure is also increase in the price of petroleumumm products due to its cascading effect. And increase of interest rates periodically has really hit hard to the people who want to take home loan from the banks.