Lending, deposit rates to go up ahead of festive season: SBI

September 20, 2013 14:14

Soon after unveiling of the Reserve Bank's mid-quarter policy review, country's largest lender SBI today said lending and deposit rates will go up in view of the festive season demand.

"Now the busy season has started so there is a huge credit demand and banks are scrambling for deposits. Deposit rate, I think, will go up and accordingly to that lending rates can also go up," SBI Chairman Pratip Chaudhuri said here.

Banks would first raise the deposit rates and then they will calibrate the lending rate, he added.

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