Union Bank of India alludes at lowering lending rates
By Joseph Samson
Feb 29, 2012
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Public sector lender, Union Bank of India has alluded at reducing its lending rates in the near future. The largest lender in the country, State Bank of India has recently reduced its education loan rates.

The Chairman and Managing Director of Union Bank of India, Mr. M. V. Nair said, "If NIM (net interest margin) continues to hold strong, we may reduce rates especially on the retail sides like home loan and education loan."

"If the margins are above 3.3per cent in February we will pass the benefit to the customers," he said.

Earlier two other public sector lenders, Bank of Maharashtra and Central Bank of India also reduced their lending rates in various loan categories.

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