Public sector lenders, Indian Overseas Bank and Indian Bank have decided not to increase their base rates.

According to Mr M. Narendra, Chairman and Managing Director, Indian Overseas Bank, his bank will decide on interest rate scenario after the annual monetary policy for the fiscal is released by Reserve Bank of India on May 03, 2011.

IOB's base rate stands at 9.5% while its benchmark prime lending rate (BPLR) is fixed at 13.5%.

Indian Bank's base rate is 9.5% while its BPLR stands at 13.75%.