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Bankers hold stable outlook on interest rates for near term

Bankers hold stable outlook on interest rates for near term
PTI
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First Published: Fri, Jan 04 2008. 01 04 PM IST
Updated: Fri, Jan 04 2008. 01 04 PM IST
New Delhi: Bankers on Friday said interest rates are likely to be stable in the short term as the liquidity position in the country is comfortable.
“Interest rates look stable for the time being... at least till April,” O. P. Bhatt, chairman of country’s largest lender State Bank of India, told reporters on the sidelines of Finance Minister P Chidambaram’s meeting with bankers here.
Punjab National Bank’s chairman and managing director K. C. Chakrabarty also said that the current liquidity position would keep interest rates stable.
“Bank’s net profit may grow at 18%-20% over the last fiscal and it is expecting a credit growth of 20% and deposit growth of 16%,” Chakrabarty added.
Bank of Baroda CMD A. K. Khandelwal said: “The bank’s deposit growth for 2007-08 is likely to be 22% and credit growth at 24%.”
Sounding similar sentiments on interest rates, Khandelwal said that short-term interest rates are likely to remain stable on comfortable liquidity position.
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First Published: Fri, Jan 04 2008. 01 04 PM IST