Mumbai: The chairman of State Bank of India
largest lender, said on Friday he did not see any upward pressure on lending
rates in the next six months, after the central bank had raised banks' reserve
"We do not see any upward pressure in
lending rates in the next six months. Our deposit rates may not go up, but it
cannot come down also," OP Bhatt told reporters here.
The Reserve Bank of India on Friday raised
the cash reserve ration, a portion of deposits that the banks need to park with
the apex bank, by 75 basis points to 5.75 percent in a move to flush out around
Rs.36,000 crore excess liquidity.
First Published: Friday, January 29, 2010, 15:47