:::::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:::::

RATES MAY GO UP SOON: OP BHATT

According to Mr. O.P. Bhatt, Chairman, State Bank of India, tight liquidity and increased credit offtake may push up interest rates in the near future.

SBI has so far restrained from hiking interest rates and has only gone for a token increase in its base rate—the lowest rate at which a bank can lend—of 10 basis points or 0.1% in October this year. The existing base rate for SBI is 7.6%.

Mr Bhatt said that the cost of funds for SBI has been stable during the last one month. “Over a period of time, they have come down,” he said, adding that tight liquidity combined with the loan growth could push of interest rate in the coming days.

Liquidity position in the banking system has come under pressure due to payment towards advance taxes, the highly successful public issue of Coal India and spending during the festival season. Mr Bhatt, however, said that the current liquidity situation is comfortable.

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/Rates-may-go-up-soon-OP-Bhatt/articleshow/6932960.cms

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

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