The Asset-Liability Committee of UCO Bank has proposed a 50 basis points (bps) reduction in its benchmark prime lending rate (BPLR) with effect from June 27, subject to its ratification by the board of directors.
The bank’s BPLR will come down to 12 per cent from 12.50 per cent after the cut. The board of directors would meet on June 27, said S K Goel, CMD, UCO Bank. The bank also planned to cut its deposit rates by 25-50 bps, said Goel.
