The largest private sector lender of the country, ICICI Bank has set its base rate at 7.5%. The lender has set its rate same as that set by State Bank of India.

"ICICI Bank base rate (I-Base) is fixed at 7.5 per cent, effective July 1," the bank declared in a statement.

The largest lender of the country, State Bank of India has declared its base rate at 7.5%. ( june 30 2010)

Base rate has come into effect from today. All banks have been mandated that they can now no longer lend below base rate. The only exceptions to it are sectors like farm loans and export credit.