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Union Bank of India has cut its Base Rate from 10.25% to 10.00%.
The new rate will be effective from January 27, 2015. Base rate is the minimum rate below which a bank will not lend.
The Bank has also reduced interest rate on deposits in various buckets under retail and bulk deposits from 10 to 50 basis points.
The rate cuts by the public sector bank come on the heels of the RBI cutting its repo rate by 25 basis points earlier today.
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