State Bank of India Chairman C S Setty said on Thursday that the bank does not expect to raise deposit rates over the next three months, citing sufficient liquidity in the system. His comments followed the Reserve Bank of India’s recent monetary policy meeting.
Setty said the RBI’s shift to a “calibrated tightening” stance is expected to benefit SBI’s net interest margins (NIMs) for up to three quarters.
Separately, brokerage firm Jefferies named SBI a top pick among large-cap banks, saying higher interest rates could drive earnings growth across the sector.