Infrastructure lender IIFCL--a government owned company--has cut its benchmark rate by 20 basis points.
With this move, IIFCL's benchmark rate has been revised to 9.70 per cent from 9.90 per cent earlier.
This change in benchmark rate has come into effect from Monday (October 5), a release issued by IIFCL said.
All the borrowers would benefit from this rate cut which reduces their debt serving burden.
In addition, this rate cut will facilitate in improving viability and sustainability of many infrastructure projects, translating into positive impact on the economy.