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Chennai, Oct. 30

The ICICI Bank Joint Managing Director, Ms Chanda Kochhar, said: “This amount of CRR hike could be absorbed... there should not be much change in the interest rates.” “SBI will not change any rates for the time being and whether interest rates will come down or go up is for individual banks to decide,” the State Bank of India Chairman and Managing Director, Mr O.P. Bhatt, told reporters here. “There is enough liquidity in the system, softening of lending rate could happen,” the HDFC Chairman, Mr Deepak Parekh, said. Increase in CRR by 50 basis points will impound the bank liquidity and reduce the lendable resources, the FICCI President, Mr Habil Khorakiwala, said.

— Our Bureau

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