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Union Bank cuts base rate by 35 bps

The new rate will be effective from Monday

BS Reporter  |  Mumbai 

Union Bank cuts base rate by 35 bps to 9.65%

The of India has reduced its by 35 basis points (bps) from 9.65 per cent. The new rate will be effective from Monday,  the bank said on Saturday.

Most are cutting down their base rate, which is the benchmark lending rate, after the Reserve Bank of India reduced the policy rate by 50 bps to 6.75 per cent on Tuesday. The State Bank of India, the country’s largest lender, has the lowest among banks, at 9.3 per cent.

First Published: Sat, October 03 2015. 21:48 IST
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