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Oriental Bank of Commerce (OBC) has no immediate plans to change its deposit rates or lending rates, its Chairman & Managing Director S.L. Bansal has said.
“It will be status-quo for us”, Bansal told Business Line when asked if the bank would change lending rates post the RBI’s second bi-monthly monetary policy statement on Tuesday.
“The lending rates will not come down unless the cost of funds comes down for us”, he said.
The way rates will move in the coming days hinge on three crucial aspects-budget announcements (in July), inflation trajectory in the next two months and the stalled projects resuming their work, he pointed out.
As for the latest RBI credit policy announcement, Bansal said it would translate into additional liquidity of about ₹ 500 crore for the bank.
Srivats.kr@thehindu.co.in
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