The Hindu Business Line : `Rate hike has not hit credit growth'

MR K.V. KAMATH, Managing Director & CEO, ICICI Bank, and Mr Sanjeev Bikchandani, Co-Founder and CEO, Info Edge, at the TiE Entrepreneurial Summit 2006 in Mumbai on Monday. — Shashi Ashiwal

Mumbai , Dec. 18

There has been no impact on credit growth and non-performing assets till now, post interest rate hike, said Mr K.V. Kamath, MD and CEO, ICICI Bank. ICICI Bank was the first bank to raise its lending rates by almost 50 basis points after the hike in cash reserve ratio by the RBI.

Mr Kamath said the hike in CRR, which will drain out Rs 13,500 crore from the banking system, is "not a significant amount". "It is not just liquidity squeeze but it is a signalling that has taken interest rates up," he added. Speaking on the sidelines of TiE Entrepreneurial summit, Mr Kamath said the bank was awaiting approvals of shareholders and the RBI for taking over Sangli Bank.

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