Central Bank of India is not looking to raise its lending rates for now even as the RBI hiked its key policy rates on Friday, its Chairman & Managing Director, Mr S. Sridhar, has said.
“Not immediately”, Mr Sridhar told Business Line, when asked if his bank would raise lending rates.
He also noted that it would be difficult to say as to whether RBI would go in for further policy rate hikes at the monetary policy to be unveiled on April 20. “It all depends on how inflation moves,” Mr Sridhar said.
On Friday, Reserve Bank of India hiked its key policy rates – repo and reverse repo – by 25 basis points each with immediate effect.
Meanwhile, Central Bank of India expects a capital infusion of Rs 450 crore from the Government by end-March. The second batch of supplementary demands for grants, which has been approved by Parliament, has provided a sum of Rs 450 crore towards capital infusion in Central Bank of India.
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