"policy-rate"

Yes Bank expects the RBI to maintain a wait-and-watch approach on interest rates despite rising inflation, as supply-side shocks have not triggered broad second-round effects. July WPI inflation eased slightly to 9.8 per cent, while manufacturing input pressures remain elevated

Raises inflation target to 4.8 per cent from previous projection of 4.5 per cent for current fiscal

The RBI opted for a status quo despite the US Federal Reserve's decision to lower benchmark rates by 50 basis points last month. Additionally, several central banks in developed nations have also reduced their interest rates.

This is the seventh time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained status quo.