Interest rate slash after meeting with FM, says SBI

Interest rate slash after meeting with FM, says SBI


“As far as interest rates are concerned, we will take a view after (bankers’ meeting with Finance Minister),” SBI Chairman O P Bhatt said after the launch of Defence Salary Package here.
“There is enough liquidity. Credit is not strong at this point of time but it is expected to pick up during the year, ” he said.
“There is definitely a softening bias (on interest rates). There is no chance of going up,” he said, adding that “perhaps they (interest rates) would come down.”
With inflation going down and sufficient liquidity make case for rate cut, he said, adding, “how much it will fall and to what extent would depend on the products mix and balance between asset and liability”.