Axis Bank not to lower interest rates as of now
By Joseph Samson
Feb 28, 2012
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Leading lenders like State Bank of India, Central Bank of India and Bank of Maharashtra have recently announced interest rate cuts for various loan schemes. However, third larges t private sector lender in the country, Axis bank has dismissed possibility of any such event at the bank in the near future.

The Managing Director and Chief Executive of the bank, Ms. Shikha Sharma said, "Rate cut will depend on the cost structure of funds. As far as reduction in lending rates is concerned, there are no such plans as of now."

She also said, "At present, the overnight borrowing is way above the comfort level of RBI and I hope the central bank will take all necessary steps, be it CRR cut or open market operations to ease this condition."

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