SREI raises benchmark rate by 150 basis points

Kolkata, Jun 24 (UNI) SREI Infrastructure Finance today announced a hike in its benchmark rate by 150 basis points to 14.5 per cent with effect from July one.

The company's Asset Liability Committee (ALCO) after a meeting and reviewing the likely increase in the borrowing costs had decided to increase its benchmark rate in line with the latest trend of upward moving interest rates in the financial market.

SREI Chairman and Managing Director Hemant Kanoria said, '' This is in keeping with the current interest scenario. '' He, however, asserted that the enhancement in the benchmark rate of the compnay is unlikely to affect the momentum of growth.

UNI PC SJC DB1946