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Adequate liquidity in banking needed: Kochhar

Adequate liquidity in banking needed: Kochhar
PTI
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First Published: Thu, Nov 06 2008. 03 37 PM IST
Updated: Thu, Nov 06 2008. 03 37 PM IST
Mumbai: “There is a need to ensure adequate liquidity in the banking system as funding sources overseas have almost dried up,” ICICI Bank Joint Managing Director Chanda Kochhar said.
“Global funding sources have almost dried up, now the entire responsibility to support growth lies largely with domestic sources,” Kochhar saidon the sidelines of a banking seminar organised by Ficci and the Indian Banks Association.
Emphasising the need for liquidity in the banking system, Kochhar said that liquidity was needed also to support the economic growth of the country in the long term.
“It is important to provide more liquidity to support growth apart from levelling the gap (in funding) created by overseas sources drying up,” she said.
On interest rates, Kochhar said that the interest rates should come down in the interests of the economy.
ICICI Bank was dynamically watching its interest rates, she said, without revealing whether the bank would reduce its lending rates soon.
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First Published: Thu, Nov 06 2008. 03 37 PM IST