:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

SBI NOT TO HIKE INTEREST RATES IMMEDIATELY: O P BHATT

According to Mr. O.P. Bhatt, Chairman, SBI is not likely to hike its interest rates before 3-6 months. 

 He said the possibility of interest rates hike is there in 3-6 months if economic conditions change.

 Without specifying for the SBI, Bhatt said base rate, which is the floor for lending rates, may rise by 25 basis points in case economic conditions change.

 Consequently, lending rates may also increase as they are directly linked to base rates that can be changed by banks only once in three months.

 RBI had on 16th September raised short term lending (repo) rate by 25 basis points to 6 per cent and borrowing (reverse repo) rate by 50 basis points to five per cent to tackle rising inflation.

 Rising inflation has also made interest rates, adjusted to rise in prices, negative. This has encouraged depositors to look for others means for parking money.

 In case deposit rates are raised, lending rates will have to be increased by banks to retain their margin. 

Posted by C.B.O.A., A.P.

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