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Wednesday, September 30, 2015

UCO Bank to reduce base rate by 25 bps to 9.7%

A day after the RBI announced a 50 basis points repo rate cut, Kolkata-based lender, UCO Bank, has said it will reduce the base rate by 25 basis points.

The base rate, which will come into effect from October 5, will be at 9.70 per cent, according to a notification to the bourses.

"The UCO Bank has informed the BSE that the bank has reduced its Base Rate by 25 basis points to 9.70 per cent with effect from October 05, 2015," it said in the notification.

Source : Thehindubusinessline


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