The country's largest lender SBI today said that it has no plans to hike lending rates immediately, and would wait for further signals from the Reserve Bank to arrive at any decision.
"There is no plan to hike our lending rates immediately. We will wait till the April policy (of the RBI) to take a call (on hiking lending rates)," SBI Chairman O P Bhatt told reporters here today.
He noted that there was sufficient liquidity in the banking system currently.
The RBI yesterday raised repo and reverse repo rates (short-term lending and borrowing rates) by 0.25 per cent each to 5 per cent and 3.75 per cent, respectively.
Bhatt said the Reserve Bank is expected to tighten its monetary stance further in the 2010-11 annual policy next month.
"Further monetary tightening is expected in the April policy," Bhatt said.
Commenting on SBI's credit growth, Bhatt said the bank has targeted a credit growth of 20 per cent in the next financial year on the back of improving demand.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app