MPC: Several uncertainties on fiscal, external fronts persist, says Patel

Two MPC members specifically warned that India may no longer be able to afford being accommodative on inflation

Minutes from the Reserve Bank of India's most recent policy meeting released on Wednesday showed members of the policy panel growing increasingly concerned about inflation, with some issuing sharp warnings against being complacent.

The central bank's monetary policy committee (MPC) voted 5-1 on Dec 6 to keep the policy rate on hold at 6 per cent after inflation accelerated to a seven-month high.

The minutes of their meeting showed members were growing concerned that inflation would accelerate above the RBI's 4 per cent target, having identified global crude and food prices as areas of particular concern - predictions