SREI hikes benchmark rate by 150 basis points

New Delhi, Apr 2 (UNI) Leading non-banking financial institution SREI Infrastructure Finance Ltd today raised its Benchmark Rate by 150 basis points to 13 per cent, in line with the trend of upward moving interest rates in the financial market.

The change will be effective from -- April 1, 2007.

After reviewing the likely increase in the borrowing costs, the company's Asset Liability Committee (ALCO) decided to increase the benchmark lending rate.

''This is in accordance with the rising interest rate scenario in the market,'' company Vice Chairman and Managing Director Hemant Kanoria said.

The enhancement in the benchmark rates is unlikely to affect the momentum of growth which is clearly visible from the robust growth in disbursement volumes, he added.

The company has touched about billion dollars in assets under management.

UNI