The refraction of radio waves as they traverse through the terrestrial ionosphere and troposphere introduces a differential phase path which results for a radio interferometer in variations of the visibility phase. Though refraction due to troposphere is significant for synthesis radio telescopes operating at 1.0 GHz and above, ionospheric refraction is dominant at lower frequencies. This problem is important in the case of Ooty Synthesis Radio Telescope (OSRT) operating at 326.5 MHz, due to its proximity to the magnetic equator. This paper deals with the nature of phase variations suffered by OSRT due to refraction and explains the methodology evolved to alleviate them.