Interest rates of PNB to be revised after monetary policy
By Joseph Samson
Apr 14, 2011
Print    Email    RSS   

Public sector lender, Punjab National Bank has said that any kind of revision in its interest rate regime will come only after regulator Reserve Bank of India comes up with the annual monetary policy for this fiscal.

"Right now there is an upward bias on our interest rates," PNB Chairman and Managing Director K R Kamath said.

Speaking of interest rate hike, he said, "These are very dynamic rates. There will always be a response to what happens in the economy...we are waiting for announcements in monetary policy to take a view on this."

The monetary policy for this fiscal is expected to come out on May 03, 2011. Increase in loan rates would totally be determined by increase in credit demand and policy tightening measures by RBI.

"It depends on credit growth. If there is a credit demand coming in, there is need for us to accumulate deposits an if there is a need for us to give higher interest rates and deposits, probably we will have to pass it on to the borrowers," he said.

"We have always been targeting a NIM of around 3.5 per cent and CASA (current account and savings account) of around 40 per cent," Kamath said.

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

 Select a product:

Carnival of Indian Personal Finance Blogs #1
NRI Banking in India
Fixed or floating interest rate home loan:...
Know your home loan better
Carnival of Indian Personal Finance Blogs #2

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

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