ICICI Bank, one of the India's largest private sector banks, witnessed a rise in share price on Monday after the bank announced a reduction of 0.35% or 35 basis points (bps) in the base rate (I-Base) with effect from Oct. 5, 2015.

The revised rate will be 9.35% p.a. as against 9.70% p.a. at present. With effect from Jul. 1, 2010, interest rates on new loans and advances, including consumer loans, are determined with reference to I-Base.

Shares of bank are trading at Rs 276.30, up Rs 8.95, or 3.35% at the Bombay Stock Exchange (BSE) on Monday at 10:04 a.m.

Total volume of shares traded on the bourses today was lower by 84.08% to 2,626,850 compared with 22-day average volume of 16,502,461.