IFCI raises lending rate by 10 bps to 8.6 pc

Term finance lender IFCI today said it has raised benchmark lending rate by 0.1 percentage point (10 bps) to 8.6 per cent.

The company has changed its its short-term benchmark rate (IBR-ST) from 8.50 per cent to 8.60 per cent with monthly rests for lending for tenure up to three months only, IFCI said in a statement.

The new rate would be effective from today, it said.

Earlier this month, RBI kept its repo rate or the rate at which it lends to banks for short term unchanged at 6.25 per cent.