In an interview to CNBC-TV18, BK Batra, executive director and group head-corporate banking, IDBI Bank says the NTPC - GAIL promoted Ratnagiri Gas and Power Private Limited is still a standard asset and the banks- SBI , IDBI and ICICI - hold 24 percent equity of the company.
Batra also shared his views on the RBI's repo rate cut today .
Below is the transcript of BK Batra's interview with Latha Venkatesh & Sonia Shenoy on CNBC-TV18.
Latha: What is the reaction to the rate cut, are base rate cut around the corner?
A: It is a strong positive signal from Reserve Bank of India (RBI), a cut of 25 bps in the benchmark rates and it will trigger lot of things as it seems to have already. Base rate cut would be looked at by individual banks and they would take a call individually depending upon their own position but it is definitely a strong basis for considering a base rate cut.
Sonia: When do you think lending rates will go down?
A: If base rates are cut obviously lending rates will move down.
Sonia: What could the timeline be?
A: As we are aware already rates have been in soft zone for quite some time because of subdued credit demand and plenty of liquidity availability. Now, since benchmark rates have been cut, it gives a very strong signal across the board that easing of rates has begun, so people will take a call on their respective benchmark rates, base rates and whichever loans are linked to those rates they will automatically get the benefit if the base rates are cut.
Sonia: Will you be cutting deposit rates further, any time soon?
A: I cannot say anything for certain right now because this is a decision taken by Asset Liability Committee (ALCO) and as and when ALCO meets, will definitely discuss this and look at it.
Latha: What is the probability of this statement happening - deposit rates will immediately fall by 25 bps and lending rates by 15 bps – base rates?
A: Deposit rates have already been moderating over the last few weeks because they are not linked to any benchmark rate.
Latha: You won't see them falling further?
A: Possibly they could fall somewhat further.
Latha: There is still a distance between you and State Bank of India's deposit rates, in fact the entire banking system and SBI; SBI is still about 25 bps lower. You think other banks will now follow suit?
A: State Bank of India has been lower from beginning in terms of base rate, their overall cost been lower. However, every bank has to look at overall funding cost and take a call on the base rate. So, possibly it is for each of the banks to take a call depending upon their cost pattern.
NTPC stock price
On January 15, 2015, at 11:13 hrs NTPC was quoting at Rs 140.10, up Rs 2.25, or 1.63 percent. The 52-week high of the share was Rs 168.80 and the 52-week low was Rs 110.90.
The company's trailing 12-month (TTM) EPS was at Rs 12.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 11.3. The latest book value of the company is Rs 104.08 per share. At current value, the price-to-book value of the company is 1.35.
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