No need to pass on rate hike to customers: SBI head

State Bank of India, the country's top lender, does not see any need to pass on interest rate increases to customers as margins are strong, its chairman Pratip Chaudhuri said on Wednesday.

"If we hike (rates), we will not remain competitive," he told reporters.

The Reserve Bank of India (RBI) last month raised key lending rate for the twelfth time in the last 18 months to fight near double-digit inflation.

He also said that the bank will be comfortable with a capital infusion of Rs 3,000 crore ($610 million) to Rs 10,000 crore ($2.03 billion) by the governmen.

Moody's on Tuesday had downgraded the standalone rating for State Bank of India, citing modest capital and weakening asset quality.

Source: Business Standard