L&T Infrastructure Finance Company (L&T Infra), a wholly owned infrastructure financing subsidiary of Larsen & Toubro, has lowered its prime leding rate (PLR) by another 0.50 per cent, from 14 per cent to 13.50 per cent per annum 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, the company said.
L&T Infra has adopted its own PLR known as “L&T Infra PLR” - that reflects 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 per cent to to 14 per cent annually.
