Extending its wait-and-watch mode, the monetary policy committee (MPC) of the Reserve Bank of India (RBI) kept key lending rates and policy stance unchanged on August 6.
The development was along expected lines but the market saw some bouts of volatility after the RBI Governor Shaktikanta Das shared the outcome of the three-day meeting.
Market benchmark the Sensex fell more than 200 points but soon pared losses, with rate-sensitive banking, auto and realty stocks trading mixed.
The central bank left the repo rate unchanged at 4 percent and the reverse repo rate at 3.35 percent. Sharing the outcome of the bi-monthly review, Das said the policy stance would continue to be accommodative.