United Bank of India cuts MCLR by five basis points

State Bank of India was first to announce 10 bps cut in MCLR last week after Reserve Bank of India Governor Shaktikanta Das exuded confidence that previous policy rate cuts would translate into banks lowering lending rates even as the central bank kept repo rate unchanged in the last monetary policy.

from Personal Finance News-Wealth-Economic Times https://ift.tt/2su5QkZ