INTEREST RATES MAY REMAIN STABLE TILL MARCH

As per the news report appearing in The Hindu Business Line, Mr. M.V. Nair, CMD of Union Bank of India and the Chairman, IBA has said that interest rates are likely to remain stable till March 2009 on low growth in bank credit and lack of consumer demand. He also expects the Net Interest Margin around 2.5% for the fiscal year ending March 2009.
Source: http://www.thehindubusinessline.com/2009/11/10/stories/2009111051380400.htm