A couple of other banks such as J&K Bank and Yes Bank [Get Quote] have already increased their prime lending rates following the 0.25 per cent hike in the repo rates recently.

The Reserve Bank had on June 11 hiked the repo rate by 25 basis points to 8 per cent.

While State Bank of India [Get Quote] has deferred taking a call on its interest rates, a few other banks are likely to take a decision on whether to up their rates or not in the next few days.