Banks unlikely to cut rates immediately: SBI on credit policy
PUBLISHED ON: October 30, 2012 | Duration: 9 min, 53 sec
The Reserve Bank of India kept is key rates unchanged in its credit policy review on Tuesday. According to Diwakar Gupta, MD and CFO of the State Bank of India, rates have already been tweaked by most banks in the last quarter. So, it is unlikely that a 0.25 per cent CRR cut will see immediate impact on banks' interest rates, he says, adding that banks are expecting relief in January.