Further rate cuts possible as inflation falling: SBI Chief

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New Delhi, Nov 16 (UNI) Country's largest lender State Bank of India (SBI) today said there is significant headroom for further cut in interest rates as inflation rate eased to single digit of 8.98 per cent.

''Interest rate can be lowered further as the inflation has come down, but when it would be done, it is not decided,'' SBI Chairman Om Prakash Bhatt told reporters here.

The bank has slashed its prime lending rate (PLR) by 75 basis points to 13 per cent with effect from November 10 and will reduce the deposits rate by 50 bps with effect from December 1.

UNI SG RP KN1610

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