SREI Infrastructure increases benchmark rate by 150 basis points

Mumbai, Apr 2 (UNI) Keeping in line with the present trend of upward moving infrastructure interest rates in the financial market, SREI Infrastructure Finance, an infrastructure financing company, has raised its benchmark rate by 150 basis points to 13 per cent with immediate effect.

The company's Asset Liability Committee (ALCO) met recently here and after reviewing the likely increase in the borrowings costs, decided to increase the benchmark lending rate.

Mr Hemant Kanoria, Vice Chairman and Managing Director of SREI, said ''This is in accordance with the rising interest rate scenario in the market.'' UNI AD GB AW1818