RBI governor Shaktikanta Das has suggested that interest rates may need to be raised if there is a second-round impact of food price shocks on overall prices. The Monetary Policy Committee (MPC) voted unanimously to hold rates for the third time this year. Das stated that while inflation remains above target in major economies, India shows resilience and stability and is emerging as a new growth engine. Other MPC members also agreed to look past the current high inflation. However, the projection for FY24's inflation rate remains above 5%, posing a challenge to reaching the 4% policy target.