Bankers said on Friday interest rates are likely to be stable in the short term as the liquidity position in the country is comfortable.
"Interest rates look stable for the time being... at least till April," O P Bhatt, chairman of State Bank of India, told reporters on the sidelines of Finance Minister P Chidambaram's meeting with bankers in New Delhi.
Punjab National Bank's chairman and managing director K C Chakrabarty also said that the current liquidity position would keep
interest rates stable.
"Bank's net profit may grow at 18-20 per cent over the last fiscal and it is expecting a credit growth of 20 per cent and deposit growth of 16 per cent," Chakrabarty added.
Bank of Baroda CMD A K Khandelwal said: "The bank's deposit growth for 2007-08 is likely to be 22 per cent and credit growth at 24 per cent."
Sounding similar sentiments on interest rates, Khandelwal said that short-term interest rates are likely to remain stable on comfortable liquidity position.