Yes the problem is with the monitor. I have this prob for past 3 months but it was an Yellow line. If I press the panel of the monitor straight below the line it will go away but today that trick is not working and its color has changed to blue and its permanent. I can work around it and the laptop is 1.5 years old. Acer aspire 5745G.
It has worked beyond its limit and I have pushed it to its breaking point and yet it works fine. May be during my travels from hostel to home and back to hostel, weights may have been placed on my bag and it could have damaged the Monitor.