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Interest rates could rise over 6 months: SBI

Interest rates could rise over 6 months: SBI
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First Published: Tue, Jul 14 2009. 12 50 AM IST
Updated: Tue, Jul 14 2009. 12 50 AM IST
Kolkata: The chairman of State Bank of India, the country’s top lender, on Monday said interest rates would likely rise by 25-100 basis points over the next six months if liquidity in the system is not managed well. One basis point is one hundredth of a percentage point. “Going ahead, there is a possibility of interest rates going up ... if liquidity is not managed well, when the busy season picks up, that is in the second half of the (fiscal) year,” said O.P. Bhatt.
Indian bank loan growth slowed to around 15% in June from about 30% seen in fiscal years 2007 and 2008, but is expected to pick up in the coming months as economic activity revives.
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First Published: Tue, Jul 14 2009. 12 50 AM IST