NHAI signs pact with SBI for largest unsecured loan at lowest interest

The Rs 250 bn long-term loan is also the largest sanctioned by SBI at one stroke to any entity

National Highways Authority of India (NHAI) has signed an agreement with State Bank of India for raising an unsecured loan of Rs 250 billion for 10 years with a three-year moratorium on repayment. This is the largest loan amount to have been sanctioned to NHAI in one stroke by any institution and at the lowest rate of 7.9 per cent. 

This is also the largest long-term unsecured loan sanctioned by SBI at a time to any entity, an official statement said.

NHAI had invited an Expression of Interest from Scheduled Commercial Banks for this loan, in response to which, SBI