SBI chairman Pratip Chaudhari attributed the decision to the "huge influx" of deposits the bank is getting at present.
MUMBAI: In what may come as a relief to borrowers, State Bank of India (SBI) on Thursday said it is not considering an increase in lending rates even though some private lenders have resorted to that step.
Pratip Chaudhari, chairman of SBI, attributed the decision to the "huge influx" of deposits the bank is getting at present.
"We are not (thinking of hiking lending rates) because we are witnessing a surge in deposits. We are getting a huge influx from the liquid mutual funds and last week, we have got about Rs 10,000-15,000 crore of new money. We are sitting on a significant amount of extra cash," he said.
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