Font Size 
Upward surge in interest rates likely to continue
Published on Tue, Jul 29, 2008 at 22:10, Updated on Wed, Jul 30, 2008 at 11:35 in Business section
Tags: RBI, Interest Rates , New Delhi
REACHING THE SKIES: Bankers say the whole exercise is futile if the aggregate demand is not contained.
New Delhi: The upward surge in rate hikes is likely to continue.
This is how bankers have reacted to Tuesday's rate hike.
ICICI Prudential Deputy MD, Nilesh Shah says, "
CMD Bank of India, S Narayansami adds, "With revision in interest rates - which is inevitable - credit growth will naturally get moderated and we will also fall in line with the RBI policy to be more cautious in credit expansion, because if you don't contain aggregate demand, then the whole excercise will become futile."
| Related links: | |
Read Comment | Post Comment
Read more comment »