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L&T Infra reduces PLR by 0.75 pc

business Updated: Jan 20, 2009 04:41 IST
L&T Infra reduces PLR by 0.75 pc

L&T Infrastructure Finance Company on Monday said that it has reduced its prime lending rate (PLR) by 0.75 per cent to 14.25 per cent.

L&T Infra is a wholly-owned subsidiary of engineering giant -- Larsen & Toubro -- and has been set up as a non-banking finance company as a part of L&T's financial services group to finance infrastructure projects.

The revised L&T Infra PLR shall be applicable in respect to all existing and new accounts, wherever the applicable interest rates are linked to it as a benchmark, a press release issued here said.

L&T Infra, which has adopted its own PLR called L&T Infra PLR, said that it reflected its borrowing costs, operating expenses and margins to cover the portfolio risk.

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