United Bank of India cuts base rate after RBI move, shares rise

MUMBAI (Reuters) - United Bank of India said it would cut its base rate by 25 basis points to 10 percent from February 1, after the Reserve Bank of India itself cut rates in a surprise inter-meeting move.

Shares in United Bank extended gains to 4.2 percent after the announcement.

(Editing by Clara Ferreira-Marques)