RBI should be ready to raise rates: MPC's Michael Patra
Michael Patra, member of RBI's six-member Monetary Policy Committee (MPC) has called for the panel to be prepared to raise repo rate if threats to inflation grow. Patra had voted to keep interest rates unchanged in the October policy "as long as inflation readings stay within the target of 4%". Notably, five members of MPC had voted for status quo.