Country's second-largest private lender HDFC Bank's Managing Director, Aditya Puri, said on Tuesday that interest rates have almost peaked and borrowers should not expect a rise above 25-50 basis points in the near future.
"We are probably at the peak of interest rate cycles, so what I am saying is, don't expect a three and four per cent increase from here may be 25-50 basis points," he said in Mumbai.
He, however, declined to comment about his expectations from the Reserve Bank's quarterly credit policy announcement due on July 26.
With a view to tame the uncomfortable inflation number, the RBI has increased its key rates 10 times since March 2010,
leading to much unhappiness among borrowers, especially retail ones who saw their family budgets going awry.
The RBI has also articulated that it is ready to compromise on growth in the short-term in order to achieve its objective of cooling inflation.
