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'Lending rate cut still some time away'
November 20, 2024
|Business Standard
SBI MD says banks would look for monetary policy stance ancl policy rate action to decide actions
Union Finance Minister Nirmala I I Sitharamanis call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) Managing Director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing. Also, the uptick in the Consumer Price Index (CPI) inflation had impacted the outlook on interest rates, he said on the sidelines of SBI's Business and Economic Conclave. The year-on-year (Y-o-Y) inflation rate based on CPI for October stood at 6.21 per cent, above the RBI's upper end of the tolerance band at 6.0 per cent.
هذه القصة من طبعة November 20, 2024 من Business Standard.
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