On Thursday, ICICI Bank said that it foresees the interest rates to go up from the 2ndquarter of the forthcoming financial year, since investment activities will go up from then on.
This was stated by Chanda Kochhar, the chief executive officer and managing director of ICICI Bank on the sidelines of the Diamond Jubilee function of the PTI in New Delhi. She said that while the bank does not see any instant pressure on interest rates, do expect an upward revision of interest rates, from the 2nd quarter of the next financial year.
Meanwhile, KV Kamath, chairman of ICICI Bank, said he foresees the interest rates to increase only from the end of this year. He said, his calculation is that the liquidity is very deep and economic activity very strong that by the end of the current year, the liquidity is expected to reduce and that would be the time to look at interest rates. He said that would be the period to take a look at liquidity situation.
However he said that for the initial 9 months there won’t be any actual pressure on interest rates. But he addend that the liquidity needs to reduce to hike the interest rates, but till then the situation would not change.
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