MUMBAI, March 20 (Reuters) - The chairman of India's top lender, State Bank of India, said on Saturday the central bank may tighten monetary policy further at its April 20 review.
'It is possible ... there may be some more tightening in the offing,' O.P. Bhatt told television channels.
He also said that he did not see any immediate impact from Friday's central bank move on rates as liquidity continued to be strong in the banking system and there was not enough credit growth.
The central bank on Friday unexpectedly raised rates from record-low levels, tightening for the first time since it began cutting in 2008, citing intensifying inflationary pressures and a steady economic recovery.
(Reporting by Neha D'silva; editing by John Stonestreet)
((neha.dsilva@thomsonreuters.com; Tel: +91 22 6636 9033; Reuters Messaging: neha.dsilva.thomsonreuters.com@reuters.net)) Keywords: INDIA RATES/SBI (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'It is possible ... there may be some more tightening in the offing,' O.P. Bhatt told television channels.
He also said that he did not see any immediate impact from Friday's central bank move on rates as liquidity continued to be strong in the banking system and there was not enough credit growth.
The central bank on Friday unexpectedly raised rates from record-low levels, tightening for the first time since it began cutting in 2008, citing intensifying inflationary pressures and a steady economic recovery.
(Reporting by Neha D'silva; editing by John Stonestreet)
((neha.dsilva@thomsonreuters.com; Tel: +91 22 6636 9033; Reuters Messaging: neha.dsilva.thomsonreuters.com@reuters.net)) Keywords: INDIA RATES/SBI (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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