Term finance lender IFCI today reduced its benchmark lending rate by 0.75 percentage point in line with market competition.
The company has reduced benchmark lending rate from 11.50 per cent to 10.75 per cent with monthly rests, IFCI said in a statement.
The new rate would be effective from January 15, it said.
However, the short-term benchmark rate (IBR-ST) has been reduced by 0.25 percentage point from 8.60 per cent to 8.35 per cent with monthly rests for lending for tenure up to three months only, it added.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.