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Friday, January 29, 2010

State Bank sees no upward pressure on rates

The chairman of State Bank of India, India's leading bank, said on Friday he did not see any upward pressure on lending rates in the next six months, after the central bank had raised banks' reserve requirements.

"We do not see any upward pressure in lending rates in the next six months. Our deposit rates may not go up, but it cannot come down also," O.P. Bhatt told reporters

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