L&T Infra Lowers its PLR by 0.50 per cent
04 Dec 2009
Infrastructure financier, L&T Infrastructure Finance Company Ltd (L&T Infra), set up as a wholly owned subsidiary of engineering and construction major Larsen & Toubro Ltd has cut its prime lending rate (PLR) by 0.50 per cent from 14 per cent to 13.50 per cent per annum effective 1 December 2009.
The new PLR will be applicable to both existing loans and new disbursals, in accordance with the L&T Infra PLR-linked interest rates.
L&T Infra waas et up under L&T's financial services group for infrastructure sector financing three years ago as an NBFC.
As is customary for all significant players operating in the financial sector, L&T Infra has adopted its own PLR, L&T Infra PLR, reflecting its cost of funds, operating expenses, margins to cover portfolio risk, etc.
Earlier this year during January-April 2009 L&T infra had reduced its PLR in two stages from 15 per cent to 14 per cent. in response to the monetary easing measures adopted by RBI.