Reserve Bank Governor Raghuram Rajan stuck to the script by holding repo rate steady in his last monetary policy announcement today, reports NDTV.

Dr Rajan kept the key repo rate unchanged at over five-year low of 6.5 per cent citing rising inflationary trend in the economy. Experts had predicted a status quo on interest rates, considering retail inflation is hovering around a two-year high.

Dr Rajan, who has been dubbed as an inflation warrior for his relentless focus on controlling prices, will be credited for breaking the back of double digit levels prevailing when he was appointed in 2013.

When he walks away on September 4 to return to academia in the US, Dr Rajan will be relieved that the government that has formerly adopted the retail inflation targets he had set. Among Dr Rajan's legacy would be a yet-to-be-formed monetary policy committee that will decide on interest rates in the future.