ICICI sees stable interest rates in medium term

The country's second-largest lender ICICI Bank sees stable interest rates in the medium term.

"As long as the global window is open, growth will happen and interest rates will remain stable," ICICI Bank CEO K V Kamath said on Monday.

He said the corporate sector needs Rs 800,000 crore (Rs 8,000 billion) as capital expenditure in the next two to three years.

The corporates have a cash surplus Rs 156,000 crore (Rs 1,560 billion) in the form of profit besides Rs 60,000-70,000 crore (Rs 600-700 billion) in the form of debt and equity, Kamath said.

However, the domestic requirement of the corporates for additional credit is not very significant, he said.