8216;Will wait for cues before effecting rate changes8217;

Meanwhile, another top bank official said interest rates were unlikely to rise and would stay in the present range while the liquidity situation was comfortable. 8220;Interest rates did not spiral in the month of March and we raised deposits at the same rates as in January and February8230;they interest rates would stay somewhere at where they are now,8221; ICICI Bank8217;s joint managing director Chanda Kochhar said.

On interest rates Kamath said the bank would review market conditions before taking any measure to change them, adding that the bank had not reduced interest rates 8220;when other banks were cutting rates8221;.