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United Bank of India Cuts Base Rate After RBI Move, Shares Rise

United Bank of India said it would cut its base rate by 25 basis points to 10 per cent from February 1.
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Mumbai: United Bank of India said it would cut its base rate by 25 basis points to 10 per cent from February 1, after the Reserve Bank of India itself cut rates in a surprise inter-meeting move.

Shares in United Bank extended gains to 4.2 per cent after the announcement.

Copyright: Thomson Reuters 2015



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