NEW DELHI, May 3 Asia Pulse - Ahead of the Reserve Bank of India’s (RBI) slack season credit and monetary policy, Life Insurance Corporation of India, one of the biggest players in the financial sector, Saturday said there were expectations that interest rates could go up marginally.

“We see signs of interest rate hardening and there is a slight increase also,” LIC chairman S B Mathur said here at an insurance seminar organised by Birla Institute of Management Technology.

Observing that the yields on Government securities had risen to 5.23 per cent during October 2003 as compared to 5.11 per cent in the previous year period, he said “there was ample liqudity but market expects interest rate to go up marginally.”