Thursday, August 20, 2009

Interest rates to rise - ICICI Bank CEO and managing director Chanda Kochhar

The country's largest private sector lender ICICI Bank on Thursday said lending rates will start going up any time now, quite contrary to the SBI chairman's projection that borrowers can breathe easy till Diwali.

"I really believe that interest rates are not going to go down from here. Gradually they would go up. When?...would really depend on how fast the credit growth takes place," ICICI Bank CEO and managing director Chanda Kochhar told PTI.

Her statement comes a day after SBI Chairman O P Bhatt said that rates would not rise till Diwali and may even soften by 25-50 basis points before the busy season in October.
To read more, please, visit Rediff

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