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India's largest public sector lender State Bank of India has decided to leave the interest rates unchanged, according to Chairman Pratip Chaudhuri.
"There is no change in the interest rates. The base rate stays at 9.75 per cent,” Chaudhuri said on sidelines of an EXIM Bank event.
Chaudhuri had hinted at a rate cut in its earnings press conference saying the Asset Liability Committee will be meeting in a day or two.
The bank last cut rates in mid-September by 0.25 per cent following the CRR cut in the mid-quarter policy review.
The bank has already cut lending rates to a low of 10 per cent on home loans up to Rs 30 lakh and 10.50 per cent for auto loans as part of a festive offer valid till the end of December.
None of the commercial banks have so far reduced lending rates post RBI monetary policy review on October 31.
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