UPDATE 1-INTERVIEW-India c. banker sees inflation easing

* Indian consumer prices to fall in months ahead

* Corporate debt issuance to pressure bank lending rates

* Private placement of government bond not an option

(Adds details, quotes)

By Sebastian Tong

LONDON, April 23 (Reuters) - Consumer prices in India will likely fall in the months ahead, and inflation is no worry for the country's central bank despite an unexpected uptick in the inflation gauge, its deputy governor said on Thursday.

Rakesh Mohan, Reserve Bank of India Deputy Governor, also said the commercial bond market could offer Indian companies a financing alternative at a time when domestic banks were reluctant to lower lending rates.

Speaking on the sidelines of the London Business School's India business forum, he said the central bank's liquidity boosting measures were lowering the cost of corporate bond issuance for Indian firms.