"We have decided to increase certain below-PLR rates as per the reset clause, due from April, 2008," said TM Bhasin, executive director, UBI.
"This would not affect individuals, but large corporates, as the below-PLR rates were only applicable to large corporate advances," he added.
The Kolkata-based bank is eyeing a 30 per cent retail credit growth in this financial year. The retail advances are set to cross Rs 9000 crore.
"In the last financial year, the retail advances of the bank grew by 33 per cent to Rs 7,158 crore and we are expecting a growth of at least 30 per cent this year," Bhasin said.
The bank has a housing loan exposure of Rs 4,148 crore. It recently slashed the home loan rates by 25 basis points.
UBI has a personal loan exposure of Rs 2,727 crore. It sees no slowdown in this segment and has no plans on going slow on disbursements. "We follow a comprehensive selection process for personal credit and most of our customers in the segment already have an account with us," Bhasin said.
The Rs 75,000 crore bank has pegged a 22 per cent growth in total business at Rs 90,000 crore by the end of March this year.
