NEWS & ADVICE : FIXED DEPOSITS
PNB would not be raising interest rates in near term
By Neelima Shankar
Apr 14, 2010
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The second largest public sector lender of the country, Punjab National Bank has declared that it would not be increasing interest rates in the near term saying that there is sufficient liquidity in the system.

"There is no problem of liquidity ... (therefore) no possibility of interest rates going up now," PNB Chairman K R Kamath told.

Kamath also said that the daily transactions in the repo and reverse repo windows are in the range of Rs 50,000 crore to Rs 1 lakh crore, which indicate a comfortable liquidity position.

The bank also ruled out any plans of raising funds from the capital market saying that it had sufficient funds and is not in need of any fund raising regime.

Kamath however said that the bank raises debt from time to time. He also said that the bank keeps a regular watch on the debt market and any development taking place there.

 


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