Inflation likely to touch 13-14% by Oct, says ABN Amro Chief

Inflation likely to touch 13-14% by Oct, says ABN Amro Chief
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First Published: Tue, Aug 12 2008. 05 49 PM IST
Updated: Tue, Aug 12 2008. 05 49 PM IST
PTI
Mumbai: Inflation is likely to touch 13-14% mark by October before it begins to soften, a top banker said.
“Inflation is likely to touch the 13-14% mark by October, but it may soften after that,” ABN Amro Bank’s India chief Meera Sanyal told reporters here today.
Sanyal also said there has been a slight increase in delinquencies in the credit card and personal loan portfolios of banks and attributed it to higher interest rates.
On corporate growth, Sanyal said that in the medium-term, there may be some slowdown, “but in the longer-term, it will remain robust”.
She said that despite a slowing down in crude prices, inflation in the country was likely to touch the 13-14% mark by October.
“But Inflation should come down post-October,” the ABN Amro official said.
Given the good monsoon expectations, there are already signs of food prices coming down, she said.
On ABN Amro Bank’s rebranding into RBS, Sanyal said that the bank was in constant discussions with the Reserve Bank on the matter.
“We are in constant touch with the RBI (on the rebranding issue),” she said.
The entire process may take up to the middle of next year, she said.
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First Published: Tue, Aug 12 2008. 05 49 PM IST