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RBI credit policy: Banks put lending rate cut on hold

Banks have held back plans to reduce their lending and deposit rates

Apnaloan.com Research Bureau

31 Oct 2007

Banks have held back plans to reduce their lending and deposit rates, post the 50 basis points CRR hike by Reserve Bank of India (RBI) in its mid-term credit policy.

Most banks are of the view that lending rates will not move up because of the CRR hike. Some banks may, however, cut their deposit rates. Media reports quoted SA Bhat, chairman & managing director, Indian Overseas Bank, as saying the bank may reduce deposit rates by 25 to 50 basis points, while lending rates will remain stable.