The RBI on August 7 had reduced the benchmark lending rate by 35 basis points to 5.40 per cent amid concerns over slowdown in economy
India's annual headline inflation slowed for a third straight month in March to 4.28 per cent from 4.44 per cent in February
The market was nervous after Reserve Bank of India (RBI) Deputy Governor Viral Acharya gave hints of a policy tightening
RBI members say inflationary risks to remain in near term: MPC minutes
RBI minutes: MPC concerned over rising inflation
Governor Urjit Patel said in Aug 2 meet that there's still space for banks to cut rates