Some MPC members doubt if growth would be sustainable: RBI minutes

Before the Reserve Bank of India’s (RBI’s) monetary policy announcement, the members of the Monetary Policy Committee (MPC) were worried as to whether growth could sustain even as inflation fears persisted, according to the minutes of the two-day meeting.

The six-member MPC met for two days, on April 4 and 5, to decide, with a five-to-one vote, that the policy repo rate should remain unchanged at 6 per cent.

RBI Deputy Governor Viral Acharya said he would favour rate hikes in future, but not now.

“I feel it is important to let some more hard data come in, especially on