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.''
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Story first published: Monday, April 2, 2007, 19:16 [IST]