In a recent paper by the authors a general result characterizing two-sided LIL behavior for real valued random variables has been established. In this paper we look at the corresponding problem in the Banach space setting. We show that there are analogous results in this more general setting. In particular, we provide a necessary and sufficient condition for LIL behavior with respect to sequences of the form , where is from a suitable subclass of the positive, non-decreasing slowly varying functions. To prove these results we have to use a different method. One of our main tools is an improved Fuk-Nagaev type inequality in Banach space which should be of independent interest. References