Power Finance Corporation to raise lending rate
May 11th, 2011 - 10:32 pm ICT by IANSKolkata, May 11 (IANS) The Power Finance Corporation (PFC), the financial institution dedicated to power sector financing, will shortly raise its lending rate to adjust it according to current market situation, a top company executive said Wednesday.
“We will have to adjust our rates according to current market scene. It will be within this month. The hike could be between 25 to 50 basis points,” PFC Executive Director (Finance) Nalini Shastri Vanjani told reporters here.
She said the current lending rate varies between 11.5 percent and 13 percent.
PFC Director (Projects) Rajeev Sharma said: “We have a small group which looks into financing linkages. One such funding is approved in India.”
The corporation had not yet taken a final decision on overseas funding for such linkages, including coal blocks, he added.
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Tags: basis points, coal, company executive, current market, director finance, director projects, executive director, final decision, financial institution, India, linkages, market situation, nalini, pfc, power finance corporation, power sector, rajeev sharma, shastri, small group