No plans for an immediate rate hike: SBI

SBIThe country's largest lender, State Bank of India (SBI) has recently announced its clear intentions of not announcing any rate hike in the coming days on the back the hike announced by the Reserve Bank of India (RBI). Notably, the RBI recently announced a hike in the repo rate and reverse repo rate by 25 basis points taking both to 5% and 3.75% respectively.

In fact, SBI has further said that the bank will look at the option of announcing a hike after the RBI will announce its policy in the month of April as there is still enough liquidity in the market.

However, experts believe that there is still room further financial tightening in the Indian economy and are expecting the same from the RBI's policy. However, many private players in the industry are already in a mood to make the loans more expensive for the consumers.

SBI is targeting a mind-boggling credit growth of 20% in the next fiscal riding on the back of the improving consumer sentiment and the rising demand. Repo rate and reverse repo rates signify the short-term lending and borrowing rates from RBI.