United Bank of India trims MCLR rate by 90 basis points; shares gain
Not only banks but NBFCs have been in a rate cut war. Both banks and NBFC have reduced MCLR in the range of 40 basis points - 90 basis points within just 4 days of January 2017.
Now, for a tenure of one year the new MCLR rate is 8.80 from its earlier 9.40%. Photo: Official Website