Srei raises benchmark rate by 100 basis points

KOLKATA - Non-banking finance companies Srei Infrastructure Finance Limited and Srei Equipment Finance Private Limited hiked their benchmark rate by 100 basis points from Wednesday.

This increase has been necessitated due to successive increase in the interest rates by the banks in the past few months. We usually do not react immediately as it may be detrimental to the interests of our clients.

We now clearly see a rising interest rate trend, therefore this hike to 16 percent and 15 percent per annum for Srei Infrastructure Finance and Srei Equipment Finance respectively, said Hemant Kanoria, Chairman and Managing Director, Srei Infrastructure Finance Limited said.