ICICI Bank [Get Quote] chief executive officer and MD K V Kamath on Tuesday said that there is no need to alter interest rates since the demand for credit is not high.Kamath said that there is enough systemic liquidity in the system. "But the demand for credit is not high," he said.
"The current credit offtake does not warrant altering with the interest rates at the moment," Kamath said, when asked whether ICICI Bank would change interest rate in view of SBI [Get Quote] raising the deposit rates.
SBI, the country's largest bank, on Monday announced to raise interest rates on deposits of two years and above by up to 0.50 per cent with effect from June 1.
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