Retail and corporate borrowers can breathe easy as bankers today said an immediate hike in lending rates is unlikely, although the RBI tightened monetary policy by raising key rates.
RBI on Tuesday raised its short-term lending and borrowing rates by 0.25 per cent and 0.50 per cent respectively to bring inflation down to six per cent by March 2011 from double digits now.
The floating rate term deposit product will offer no guarantee on returns, as the interest will change with the revision of base rates.
Bandhan Bank is the first bank to be launched in eastern India post Independence.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
The Supreme Court said on Thursday that it will hear "as and when required" a public interest litigation challenging the government's notification authorising 10 central agencies to intercept, monitor and decrypt any computer system.
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