State Bank sees no upward pressure on rates
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State Bank sees no upward pressure on rates

Last Updated: Friday, January 29, 2010, 15:47
 
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State Bank sees no upward pressure on rates
Mumbai: The chairman of State Bank of India (SBI), India's 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 requirements. "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.
Bureau Report


First Published: Friday, January 29, 2010, 15:47


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