SBI to not raise rates: Pratip Chaudhuri, SBI

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SBI to not raise rates: Pratip Chaudhuri, SBI
SBI Chairman Pratip Chaudhuri said the bank's reliance on sticky savings and long-tenor fixed deposits makes it comfortable to hold on to lending rates, which are the lowest in the system.

According to PTI, Chaudhuri said, "Right now we are not raising the rates." As per the media reports, he said the bank was sitting on excess liquidity of around Rs 70,000 crore, out of which around Rs 20,000 crore came in after the liquidity tightening by the Reserve Bank to protect the rupee.

The comments come within days of two private lenders -- Yes Bank and the second largest private sector lender HDFC Bank -- hiking their minimum lending rates following Reserve Bank's last month move to squeeze liquidity.

Dion Global Solutions Ltd.

Story first published: Tuesday, August 13, 2013, 9:10 [IST]
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