The largest lender of the country, ICICI Bank has said that it expects rise in lending rates to set in after September. The bank's expectations are based on the assumption that credit offtake is likely to take a pick in the second hald of this financial year.

"My belief is the demand for liquidity will increase substantially in the second half of this year," ICICI Bank CEO and Managing Director Chanda Kochhar said.

"So, you would see some gradual increase in interest rate on the lending side over the next one year," she said.

Talking about the IPO plans of ICICI Securities, she said, "There is nothing in the offfing. Nothing in this fiscal."

Speaking on base rate she said, "Immediately you will not see change in effective rate just because of the announcement of base rate."