ICICI Bank rules out rate hike

ICICI Bank, the country's largest private lender, on Wednesday ruled out any interest rate hike in the near future and said it was rebalancing its portfolio.

Liquidity in the banking system was comfortable and there seems to be no indication or signals that could prompt an interest rate change, ICICI Bank's Managing Director and CEO, K V Kamath said on Wednesday.

Banks would need to rebalance their portfolios and ICICI Bank was doing this on a continuous basis, he said.

He said banks should focus on deposit mobilisation, but sought a level-playing field for banks compared to other savings institutions such as mutual funds and insurance companies.