Money & Banking

IIFCL cuts base rate by 20 bps to 9%

Our Bureau. New Delhi | Updated on July 20, 2020 Published on July 20, 2020

India Infrastructure Finance Company Ltd ( IIFCL) has reduced its base rate by 20 basis points to 9 per cent. Currently, IIFCL, which is wholly-owned by the Central Government, has a loan book of about ₹35,000 crore.

The latest move to reduce the base rate is unlikely to impact the profitability of this infrastructure lender, sources said. It may be recalled that the Government had, on March 30, infused ₹5,297.60 crore capital into IIFCL.

With this enhanced capital, IIFCL now had increased exposure limits for individual projects and developer groups. It would also help the company comfortably maintain its Capital to Risk Adjusted Ratio as per RBI regulations.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 20, 2020
interest rate
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.
SBI Card net up 14% in Q1