Mumbai: State Bank of India won't raise its lending rates despite a hike in key policy rates by the central bank, its chairman said Saturday.
OP Bhatt, speaking at the sidelines of an event, said the bank will wait for the Reserve Bank of India's policy meeting April 20 before making a decision on rates.
In an unscheduled move late Friday, the RBI raised its key borrowing and lending rates by 25 basis points in a bid to curb inflationary expectations in the economy.
Bureau Report
First Published: Saturday, March 20, 2010, 12:29