IFCI Lowers Lending Rate

New Delhi: Infrastructure term-lender IFCI Ltd on Friday announced a 0.30 percentage point cut in its lending rate to 11.70 per cent.

"The company has reduced its benchmark rate from 12 per cent per annum to 11.7 per cent with monthly  rests," IFCI said in a regulatory filing.

The new rate shall be applicable from January 18, 2016, it added.

Share in IFCI, on Friday, ended 1.49 per cent higher at Rs 27.30 apiece on the BSE, whose benchmark Sensex index finished up 0.33 per cent.