New Delhi, Oct. 18 -- Members of the Reserve bank of India's Monetary Policy Committee (MPC) at its rate review on 5 October sparred over whether monetary easing alone is sufficient to revive the economy, according to the minutes released on Friday. While all the members agreed to maintain an accomodative policy stance, a section of MPC members felt that monetary policy cannot be the first line of defence.

"In my minutes at the time of the June 2019 meeting of the MPC, I had emphasised that while monetary policy is taking the lead as the first line of defence, a full throttle effort by all arms of macroeconomic management is the need of the hour. Over recent weeks, monetary and fiscal actions have been undertaken, and it is important to ...