NEWS & ADVICE : SAVINGS ACCOUNTS
No Immediate Plan To Hike Base Rate – VR Iyer, CMD Of Bank Of India
By Vaibhav Aggarwal
Aug 29, 2013
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At the moment, we are very comfortable with our liquidity position and there is no need to hike our base rate. We do not have any immediate plan to increase the base lending rate, as we are concentrating more on our deposits. May be, in the coming days, we may decide about increasing the deposit interest rates and during that time, we would review our lending base rate. While most of the banks have increased their base lending rate, the Bank of India is confident of managing, without raising its base rate.

Ms VR Iyer, the CMD of the Bank of India says that the bank is confident of running the business smoothly, by containing the NPA ( Non Performing Assets ), between 1000 and 1100 crore Indian Rupees. During the interview with the CNBC – TV18, Ms VR Iyer said the bank would look into the matter of the base rate, while revising the interest rates on the deposits.

 


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