UBI to reduce interest rates by 25 bps

June 24th, 2009 - 8:53 pm ICT by IANS  

Kolkata, June 24 (IANS) The state-owned United Bank of India (UBI) has reduced the benchmark prime-lending rate (BPLR) by 25 basis points, a bank statement said here Wednesday.
“The bank has reduced prime-lending rate by 25 basis points to 12 percent with effect from July 1, 2009,” S.C. Gupta, chairman cum managing director of the bank, said in the statement.

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