Bank of Baroda, Union Bank of India reduce MCLR across all tenors

June 11, 2020 8:33 AM

Bank of Baroda, Union Bank of India reduce MCLR across all tenors

State-run lenders Bank of Baroda (BoB) and Union Bank of India (UBI) have announced cut in their marginal cost of funds-based lending rates (MCLR) across all tenors. While the Bank of Baroda's MCLR cut of 15 basis points (bps) is effective from tomorrow, the 10 bps revision in Union Bank of India's rates will come into force from today. Bank of Baroda has revised its one-year MCLR to 7.65 per cent from 7.80 per cent. Its six-month MCLR has been revised downwards to 7.50 per cen...

Govt decides to infuse around Rs 5000 Cr into Bank Of Baroda

March 28, 2019 12:07 PM

Govt decides to infuse around Rs 5000 Cr into Bank Of Baroda

The government has decided to infuse around five thousand crore rupees into state-owned Bank of Baroda ahead of merger of two other public sector lenders Dena Bank and Vijaya Bank with Bank of Baroda. The merger of Dena Bank and Vijaya Bank with Bank of Baroda would be effective from 1st April. The Bank of Baroda, in a regulatory filing,  said that the finance ministry through its notification conveyed its decision to infuse capital of 5,042 crore rupees in the bank. The government in September ...