Public sector lender Union Bank of India has announced a rise in its benchmark prime lending rate (BPLR) by as much as 25 bps.
Following the revision, the BPLR of the bank now stands at 14.50% from 14.25% earlier. The new rates have come to effect from today, July 25, 2011.
The bank has also recently revised its base rate by 25 bps taking it to 10.25%.
In a recent pre monetary policy meet, the bankers have insisted on putting a halt in interest rate hike citing that this is hampering industrial growth. Industrial growth has been ticked at the lowest in the month of May.