Union Bank of India reduces MCLR by 20 basis points across tenors

State-owned Union Bank of India has announced reduction in its marginal cost of funds-based lending rate - MCLR by 20 basis points across tenors. The new rates will be applicable from today. The revised one-year MCLR stands at 7.40 percent as against 7.60 percent earlier.   The three-month and six-month MCLRs have been cut to 7.10 percent and 7.25 percent, respectively. This is the thirteenth consecutive rate cut by the lender since July last year. Another public sector lender Bank of Baroda has...