Mumbai: State Bank of India (SBI), the country’s top lender, is not in a hurry to raise interest rates now, its chairman Pratip Chaudhuri said on Tuesday.
“We don’t see pressure now. Banks are comfortable with the liquidity now. Banks will not be desparate to raise rates,” Chaudhuri said at a post policy bankers’ meeting with media.
Earlier in the day, the Reserve Bank of India raised interest rates for the 13th time since early 2010 to battle stubbornly high inflation but signalled it may end the tightening cycle that has put it at odds with peers more concerned about weak global growth.