This research investigates the influence of monetary policy pronouncements on stock market volatility in India, with an emphasis on the Nifty 50 index for the period between 2018 and 2024. The role of monetary policy, implemented by the Reserve Bank of India (RBI), in regulating macroeconomic stability, liquidity and market expectations, cannot be overlooked. The stock market is a forward-looking mechanism, so the changes in monetary policy announced by the Reserve Bank of India (RBI), particularly the interest rate decisions of the RBI, will be expected to produce instant responses through changes in stock prices and market volatility. This study will attempt to assess the short-run effect of RBI monetary policy decisions on stock market volatility in India for the period 2018-2024. During this period, a wide range of conditions will be analysed, including the pre-COVID era, COVID uncertainty, and the post-pandemic expansionary and restrictive periods. The event study approach is used in this study to examine the effect of the policy announcements on stock market volatility. Data on daily closing prices of the Nifty 50 index will be utilized to compute logarithmic returns over an 11-day event window from -5 to +5 days relative to the date of monetary policy decision announcement. The approach will also include descriptive statistics and comparisons of the volatility of the period with respect to the announcement days. The analysis hypothesizes that the announcement of monetary policies greatly affects the stock market volatility in the short run; specifically, contractionary policies may trigger more adverse reactions from the market due to increased liquidity costs.