The chairman of the largest lender of the country, State Bank of India has said that any increase in loan rates by banks is unlikely in the period from April to June owing to dip in industrial activity.

"April is a slow month and we are not expecting strong demand for credit. It will take a few months for demand to pick up," said Chairman, Mr O P Bhatt.

Following the recent policy rate hike by Reserve Bank of India on March 17, 2011, some banks had hinted on rising pressure in terms of loan rates.

Mr. Bhatt presented his views in an event organised by All India Management Association (AIMA) where Mr Ratan Tata was given the All India Management Association (AIMA) Lifetime Achievement Award.