‘At present rates, growth slowdown possible’

The country’s GDP growth could experience a slowdown if interest rates continued to rise or stayed at the current levels, ICICI Bank chief K V Kamat has said. “If rates continue to rise or stay where they are, there is a possibility of a slowdown,” ICICI Bank managing director K V Kamath said, hinting that interest rates were at elevated levels.

He, however, maintained that anecdotally there has been no change in course of the Indian corporates as of now. “We have not seen any projects being pushed from the front burner to the back burner, at least anecdotally,” Kamath said.