SBI defers interest rate hike
Monday, June 16, 2008State Bank of India (SBI) today deferred a decision on raising interest rates and said it will prefer to wait for one to two weeks before taking a call on the issue. SBI Chairman O P Bhatt said in Hyderabad,
We will wait and watch and take a little time. We want to examine whether we can absorb the repo rate hike. I think we can afford to wait for a week or two. We will deliberate, get the data and then we will look at our strategies.However, Private Sector bank, Yes Bank has announced a 0.5% hike in PLR. It has also raised interest rates on Fixed Deposits.
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