Interest rates for SBI to rise in a day or two
By Vaibhav Aggarwal
Aug 16, 2010
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The largest lender of the country, State Bank of India will come up with new interest rates in the upcoming couple of days.

"Our ALCO (Asset Liability Committee) would meet tomorrow or so," SBI Chairman O P Bhatt said.

Bhatt had said last week while announcing the bank's results that, "There is an upward bias on interest rates... We are looking at that... Now that our quarterly results are out, we shall review our interest rates."

"You can revise the interest rate only once a quarter... The revision will now be for the BPLR," he had said.

"The deposit rates have almost bottomed out for the industry and there is a definitely an upward bias as far as advances are concerned because of the way RBI is managing inflation and liquidity," he had said.

The rate rising spree has started following the policy rate hike by RBI during monetary policy review.


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