IFCI cuts benchmark lending rate by 75 basis points
The new rate would be effective from January 15
 "IFCI cuts benchmark lending rate by 75 basis points")
Term finance lender IFCI on Saturday reduced its benchmark lending rate by 0.75% point in line with market competition.
The company has reduced benchmark lending rate to 10.75% from 11.5% with monthly rests, IFCI said in a statement.
The new rate would be effective from January 15, it said.
However, the short-term benchmark rate (IBR-ST) has been reduced by 0.25% point from 8.6% to 8.35% with monthly rests for lending for tenure up to three months only, it added.