No credit offtake delay due to rate hike

Mumbai: Country's largest private sector bank, ICICI Bank Ltd, has said there was no slowdown in credit offtake following the hike in interest rates by the bank recently.

"There has been no impact at all at this point in both corporate and retail credit offtake," Managing Director and Chief Executive Officer (CEO) K V Kamath said here on the sidelines of an award ceremony during the weekend.

ICICI Bank had recently increased its lending rates by 50 basis points.

"As long as the economy is in robust shape, the demand for credit would continue," he said.

On further hardening of interest rates, the Bank MD refused to speculate and said the bank would "wait and watch" and "read signals" before taking a call on it.