UCO Bank to slash lending rates next week

June 19th, 2009 - 9:35 pm ICT by IANS  

Kolkata, June 19 (IANS) The city-based UCO Bank will cut its deposit and lending rates by 50 basis points soon, a top bank official said here Friday.
“We would cut both the deposit and lending rates by 50 basis points from June 27,” UCO chairman and managing director S.K. Goel told IANS.

At present, the bank’s benchmark prime lending rate is 12.5 percent while the deposit rates vary according to the maturity period.

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