Advances to become "dearer": AB CMD

Hyderabad, July 28 (UNI) The public sector Andhra Bank will shortly hike interest rates on advances following the announcement of new credit policy by the Reserve Bank of India, its Chairman and Managing Director K Ramakrishnan said today.

''We are on the job. The assets-liability committee will within a week decide on the new revised interest rates'', he told a press conference here organised to announce the Bank's Q1 results.

Pointing out that some of the deposit rates, had been increased recently, he said hike in interest rate for advances was long overdue.

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