NEWS & ADVICE : HOME LOANS
SBI planning on rising base rate
By Joseph Samson
Jul 7, 2011
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The largest lender of the country, State Bank of India is going to have a discussion amongst the asset-liability committee members to decide upon increasing base rate of the bank, informed Chairman of the bank, Mr Pratip Chaudhuri.

Following the policy rate hike by RBI recently, many banks have raised interest rates while others are in plans to do so, said Chaudhuri.

"You can expect most banks to raise the base rates between 25 and 50 basis points," he said.

"As of now, in our view it (the rate hike by the RBI) will come with a lag... with a gap," he said.

With another quarterly review of monetary policy coming on July 26, Chaudhuri said that he would be indeed surprised if the apex bank actually raised rates in this review too.


 


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