The Hindu Business Line : No plans to hike PLR: SBI chief

Speaking to Presspersons here on Tuesday, SBI's Acting Chairman, Mr T. S.Bhattacharya, said, "We don't see any need to hike the PLR at this juncture." He said that SBI's cost of working funds were still low. This was despite the recent mop-up of Rs 500 crore through tier-two bond issues priced at 8.8 per cent. He said, " Our cost of working funds is still low; there is no need to hike lending rates now."

Asked about the slowdown in credit offtake, Mr Bhattacharya said, this was largely driven by the shift in focus of the bank. Last year, the focus was largely on topline growth. But this year, they had shifted focus to beefing up the bottom line. He, however, said, this was still the slack season. .

Earlier Mr. Bhattacharya signed an agreement with the Deccan Aviation Managing Director, Captain G R Gopinath. This agreement was for allowing purchase of tickets through SBI's net banking facilities.

This arrangement would also be extended to SBI's associate banks.

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