NEWS & ADVICE : HOME LOANS
Further rate hike unlikely for SBI
By Joseph Samson
Nov 2, 2010
Print    Email    RSS   

The largest lender of the country, State Bank of India is unlikely to go for any further rate hike even if Reserve Bank of India decides to go for one in the next monetary policy review. The upcoming review of monetary policy is scheduled on Thursday.

O.P. Bhatt, Chairman, State Bank of India, said, "Base rate will go up if cost of resources increases. I don't know if that will happen as we have 50 per cent CASA deposits."

The month of October saw the bank rising its base rate marginally by 10 basis points to 7.6%.

"The decision which the RBI has to take is not easy. Both possibilities are there. It can go for a status quo or raise the rates by at least a minimum of 25 basis points," said Bhatt.

"We may see slightly upward moving interest rate," he added.

"Credit offtake has not been in line with our expectations. We have grown at around 18 per cent till September. We had targeted a 20 per cent growth", he said. The bank has revised its credit offtake target to 18%. (25th oct)

"The growth in the home loan segment is lower compared to last year's growth", he added.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #3
Admissible deductions under Section 80C
RBI reports 19.73% credit growth of banks...
Choose right repayment plan for home loans
Carnival of Indian Personal Finance Blogs #6


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive