Interest rates may be stable for now: Kamath

"At this point of time I think no change (in interest rate) is seen," he told reporters on the sidelines of a presentation by renowned economist CK Prahlad.

Kamath said the market had not judged which way interest rates were going, but if yield on a 10-year government bond was taken as an indicator, there was in fact a drop in interest rates.

 

Bankers and market players will need signals to what is the true level of interest rates, he said.

The RBI had last month announced a 0.75 per cent hike in cash reserve ratio to 8.25 per cent to reduce money supply in the banking system.

On rising global crude oil prices, which has crossed the $122.31-per-barrel mark, Kamath said its impact had to be seen.

"Given drivers of our growth, impact of oil in day-to-day life is getting less. This is not to say that it is not a pain but pain could be borne," he said.