The Hindu Business Line : L&T Infra cuts lending rates

Financial services provider L&T Infrastructure Finance today said it has reduced prime lending rate by 50 basis points to 13.50 per cent with effect from December 1. The lower PLR shall be applicable in respect of both existing loans and new disbursals, the company said in a statement here. L&T Infra has adopted its own prime lending rate named L&T Infra PLR that is reflective of its cost of funds, operating expenses and margins to cover portfolio risk, among others. Earlier this year, L&T had reduced PLR in two stages in response to monetary easing measures taken by the RBI. L&T, under its financial services arm for financing infrastructure sector, has been in the business for nearly three years now, since obtaining its registration as an NBFC from the Reserve Bank of India in January 2007. – PTI

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