Private sector lender Axis Bank has announced a hike in its prime lending rates by as much as 25 bps.

The revised rates have come into effect from July 05, 2011.

Following revision, base rate of the bank stands at 9.75% while its benchmark prime lending rate (BPLR) stands at 17.5%.

Following policy rate hike by Reserve Bank of India on June 16, major lenders like State Bank of India and ICICI Bank have raised lending rates.

KR Kamath, CMD, PNB, said, "Our Alco will meet shortly to take a view on the rates.

"We are not looking at any revision in deposit rates as of now," said MV Nair, CMD, Union Bank of India.