India Infrastructure Finance Company (IIFCL) on Monday said the government has approved major modifications in take-out financing scheme to make it attractive to banks and borrowers.
Transparent and competitive pricing has been put in place. The pricing of take-out will range from 25 basis points to 150 bps over IIFCL's benchmark lending rate, which is 9.65 per cent, depending on the credit rating of the project. "Due to certain reservations from various stakeholders, we have made some modifications to the scheme. We will now have a non-discriminatory pricing approach," said IIFCL Chairman and Managing Director S K Goel.