L&T Infra Lowers its PLR by 0.50%

• L&T Infrastructure Finance Company Ltd (L&T Infra), set up as a wholly owned subsidiary of engineering & construction major Larsen & Toubro Ltd under its Financial Services Group for financing infrastructure sector, has been in business for nearly three years now - since obtaining its registration as an NBFC from the Reserve Bank of India in January 2007.
• As is customary for all significant players operating in the financial sector, L&T Infra has adopted its own Prime Lending Rate named as “L&T Infra PLR” - that would be reflective of its cost of funds, operating expenses, margins to cover portfolio risk etc. Earlier this year during January-April 2009 period, in response to monetary easing measures taken by the RBI, L&T Infra had reduced its PLR in two stages from 15% to 14% p.a. 
• Now, consequent to further improving market conditions, L&T Infra has decided to cut the L&T Infra PLR by another 0.50% - i.e., from 14% to 13.50% p.a. effective 1 December 2009. This lower PLR shall be applicable in respect of both existing loans and new disbursals, in accordance with relevant clause pertaining to L&T Infra PLR-linked interest rates.
• In keeping with its pro-active market responsive approach, L&T Infra would continue to periodically review the monetary conditions and suitably revise its PLR.