SBI sees no increase in interest rates till Diwali

There is very little possibility of interest rates rising till Diwali, SBI Chairman O P Bhatt told reporters after inaugurating a branch here.

In fact, interest rates may go down by 25-50 basis points between now and the busy season, Bhatt said.

There are speculations that interest rates may go up because of the huge government borrowing programme. On Tuesday, Finance Secretary Ashok Chawla also said that the government borrowing programme will not jack up interest rates.