The quarter point rate cut by the US Federal Reserve will have remittances into markets like India,  K V Kamath, Chief Executive of ICICI Bank said on Thursday. “The remittances can touch $40 million up from $30 million,” he said. He foresaw the growth continuing at 30 per cent.

Mr Kamath also said it was too early to take a call on any changes in interest rates in the wake of the cash reserve ratio hike by the RBI. “Liquidity flow in the market will make bankers do some corrections.  He said ICICI Bank consumer lending was growing by 5 to 10 per cent which he felt, was not a healthy rate. He also  struck a note of caution on the inflationary ratio.