The Hindu Business Line : Indian Bank chief sees drop in loan growth rate

"At this rate of interest, the present loan growth of 31 per cent is not sustainable for banks," said Mr K.C. Chakrabarty, Chairman and Managing Director, Indian Bank.

Speaking on the sidelines of a seminar on Values and Management, organised by Tattvaloka, a socio-religious monthly brought out by the Shringeri Mutt, in Chennai, Mr Chakrabarty told Business Line, "The loan growth rate may even drop to the levels of 17 to 18 per cent, which I think is good enough for the economy."

When asked whether he sees any rise in the repo rate, he said in a lighter vein, "I can definitely say that there will not be a cut nor will there be a rise of 1 percentage point in the repo rate. I may safely say... that repo rate may go up by 25 basis points."

IPO plans

According to Mr Chakrabarty, as part of the image makeover exercise in the run-up to its IPO, Indian Bank plans a year-long advertising campaign. "We have appointed Euro RSCG as our advertising agency, and have earmarked Rs 10 crore for the purpose," he said.

The bank plans IPO during the next calendar year.

More Stories on : Credit Market | IPOs | Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Dewan Housing aims at 25 pc business growth

IMF warns against frauds under its name

Karur Vysya Bank is not on the block, says Chairman

YES Bank to catalyse modern markets

States headed for fiscal deterioration

Indian Bank chief sees drop in loan growth rate