Power Finance may slash interest rates by 25 bpsJuly 2nd, 2009 - 6:53 pm ICT by IANS
Kolkata, July 2 (IANS) State-owned Power Finance Corp Ltd (PFC) may cut its lending rate by 25 basis points to 11.5 percent keeping in view the fall of interest rates, a company official said here Thursday.
“We may reduce our rates and align it with present market levels,” said M.K. Goel, director PFC (institution development and administration). He was speaking on the sidelines of an energy conference organised by an industry body.
At present, the lending rate of PFC is 11.75 percent. However, Goel did not divulge when this rate cut is likely to happen.
Earlier PFC said it would disburse funds worth Rs.23,000 crore during the current financial year (2009-10).
PFC is the financial institution in power sector.