• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad , May 10

INDUSTRIAL Development Bank of India (IDBI), the lead term lender to Suryalakshmi Cotton Mills Ltd (SCML), has reduced the interest rate from 13 per cent to nine per cent a year on the long-term loans and debentures sanctioned to the Hyderabad-based textile company under the Debt Restructuring Package for textile units.

It is estimated that SCML's interest charges will be lower by about Rs 2 crores per year on account of the reduction in the interest rate. The company is expecting to receive the benefit of such reduction from other term lenders also, SCML stated in a press release here on Monday.

More Stories on : Financial Institutions | Sick Units | Textiles

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Pandyan Grama Bank to set up separate micro-credit cell

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line