IFCI which is an infrastructure term-lender said that it has lowered its benchmark lending rate by 0.3 percentage point to 11.70 percent.

It said that the new rates will come into effect from January 18.

It said in a release that “IFCI Ltd, a Government of India non-banking finance company, has reduced its benchmark lending rate (IBR) by 30 basis points to 11.70 per cent with effect from Monday, January 18, 2016.”

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