L&T Infra reduces PLR by 75 basis points

L&T Infrastructure Finance Company (L&T Infra) has reduced L&T Infra Prime Lending Rate (PLR) by 0.75% or 75 basis points to 14.25%.

Prior to the reduction, the PLR stood at 15%, the company said in a statement here today.

The revised PLR will be applicable in respect of all existing and new accounts, wherever the applicable interest rates are linked to it as a benchmark.

L&T Infra is a wholly owned subsidiary of the $7-billion engineering giant Larsen & Toubro. It was set up as a non-banking financial corporation mainly to fund infrastructure projects.