SBI to review interest rates this week

Country's largest lender State Bank of India said it would review interest rates during the week. A special committee of banks will meet to review the interest rates situation.

Country's largest lender State Bank of India on Tuesday said it would review interest rates during the week.

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"It (interest rates cut) is on our agenda," SBI Chairman O P Bhatt told reporters here ahead of a meeting between the Finance Minister P Chidambaram and PSU bankers.

A special committee of banks will meet to review the interest rates situation after today's meeting with the Finance Minister, he said.

Besides, he pointed out that interest rates have peaked and are expected to moderate in coming days.

Few banks, including leading PSU lender Punjab National Bank, have already lowered their benchmark prime lending rate (BPLR) following a series of monetary measures taken by Reserve Bank.