Indian Banks' Association (IBA) today negated the need for an immediate hike in interest rates, saying there was no serious crunch of long-term funds or liquidity in the system."There is no serious crunch for long term requirements. No tinkering of interest rates is required as of now," Indian Banks' Association chairman V P Shetty said on the sidelines of a SIDBI function.When asked about the impact of RBI's decision to increase the repo rate on credit offtake, Shetty said there had been no major change and there were sufficient resources in the system.
