Bank lending rates “have actually bottomed”, and will remain at these levels for a while till the economy recovers, Dinesh Kumar Khara, chairman of the country’s largest lender, State Bank of India (SBI), told Business Standard in an exclusive interview on Wednesday.
Khara said SBI and other banks in the country were aware that the economy required softer rates to continue. “We are very mindful of supporting growth at this point of time.”
On Friday, the Reserve Bank of India (RBI) is expected to maintain the "status quo" as far as its policy rate and stance are concerned, said Khara, who took over from Rajnish Kumar as SBI chairman in early October.
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