Financial Daily from THE HINDU group of publications
Friday, Dec 16, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 16, 2005 |
|
|
|
|
|
|
|
Money & Banking
-
Interest Rates No pressure on interest rates for now: Kamath Our Bureau
Mumbai , Dec. 15 THE interest rate conditions seem stable, given the monetary policy and market signals, said Mr K.V. Kamath, Managing Director and Chief Executive Officer, ICICI Bank. As the monetary policy had underscored the liquidity position, which is stable, there was no immediate pressure on interest rates, Mr Kamath said. He, however, refused to comment on the possibility of an increase in rates by RBI.. Speaking to press persons on the sidelines of a seminar , Mr Kamath said, given the current pace of growth of the economy and per capita income, savings would rise. However, bank deposits would be under competitive pressure from other savings instruments, he said. ICICI Bank would roll out its rural programme within the next two years. The bank expected about 25 per cent of its revenues to come from the rural sector, Mr Kamath said. "After the retail and corporate customers, the next to demand services from banks is the rural customer. This will be the next big challenge for banks," he said. When asked if the bank was planning to reduce its equity stake in the asset reconstruction company, Arcil, Mr Kamath said, ``we will decide in a due course.''
More Stories on : Interest Rates
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|