Most of the banks have already reacted to the hike in the policy rates of the banks by increasing their lending rates; now finally leading public sector lender Union Bank of India has also announced a hike in its lending rates.
The bank has increased its Base rate by 50 basis points and now it stands at 10.75% but the bank has increased the BPLR only by 25 basis points and now it reads 14.50%.
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