My height is 5'4” only and RS200’s seat height is 820mm, will this bike suit me or not?

The RS200's seat height is quite high for your height and you will face difficulties while driving the bike in heavy stop-go traffic. The bike is also a heavy one, raising the difficulties to a higher level. You should prefer a bike with seat height less than 790 mm and that too with a relatively thin seat than some bikes. If not, the best option would be the Bajaj Avenger 220 Street, presenting a low seat height bike with 220 cc, DTS-i engine. The motorcycle costs INR 84,000 and comes with Matt Black exterior paint with dark theme around it's accessories.