ICICI Bank to revise deposit rates soon.
Economic Times (New Delhi, India), January, 2006
Jan. 14--MUMBAI, India -- ICICI Bank will review interest rates and will soon take a decision on deposit rates.
The bank said that the move was being influenced by its competitors' action. State Bank of India (SBI) has announced a hike in deposit rates with effect from this week. A few other public sector banks have revised their interest rates.
"We are having a close look at our deposit rates and will decide soon. There are two things we are watching; one, how our costs are moving, and two, how markets are moving," said Chanda Kochar, executive director, ICICI Bank. "Costs of funds have not gone up in a substantial manner. But it is not just the costs, it is also the effect of competition," she added.
"We have already revised our rates for...
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