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SBI rules out rate rise for now

Calcutta, May 20: Come October, interest rates may start moving up again.

This apprehension was expressed by State Bank of India chairman A.K. Purwar who was in the city today to address an interactive session organised by Bharat Chamber of Commerce.

'The busy season (October 2005-March 2006) is long over and the liquidity position with banks in the country is comfortable. Demand for credit will once again start going up from October. This may put pressure on the interest rate,' Purwar said and added that the interest rate will remain stable in the interim period.

'The credit growth, which was over 30 per cent last year, will continue to be the same this fiscal also. This year, the growth will come from the infrastructure sector ' road projects, mega power projects, SEZs and airport modernisation,' he added.

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