LENDING RATES LIKELY TO REMAIN STABLE: O. P. BHATT

Domestic banks' lending rates are likely to remain stable in the April-June period because of a seasonal slowdown in industrial activity, State Bank of India Chairman, Mr O. P. Bhatt said.

 “April is a slow month and we are not expecting strong demand for credit. It will take a few months for demand to pick up,” Mr Bhatt told reporters on the sidelines of an AIMA event.

Recently, some state-run banks had said there was an upward pressure on lending rates after the central bank raised its key interest rates by a quarter-percentage point on March 17.

Commenting on the SBI rights issue, Mr Bhatt said that it is likely to come out in the next financial year

SOURCE: http://www.thehindubusinessline.com/todays-paper/tp-money-banking/article1562819.ece