SBI not to cut rates for 6 months

The bank has slashed lending rates by 200 basis points since October last year, but O P Bhatt has said interest rates were likely to harden in the second half as loan demand improves. 

Pitching for a consolidation in the banking industry, he said the country needs at least five banks of the size of SBI to service the growing needs of the Indian economy.

Admitting that Indian banks are not in a position to service the rising demands of the Indian corporates, Bhatt said, “We should have at least one, possibly two banks, which should emerge as global champion for Indian industries.” It is to be noted that SBI has already started the consolidation process with its associates bank.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry