IDBI Bank Forms Consortium for India Infrastructure Financing

June 25, 2012 by · Leave a Comment
Filed under: Uncategorized, June 25, 2012: India’s 9 largest PSU (public sector undertaking) lenders have formed a consortium for jointly financing infrastructure projects with project cost of Rs.1000 crore and above.

The public sector lenders viz., IDBI Bank, SBI, PNB, Bank of India, Bank of Baroda, Canara Bank, Union Bank, IIFCL and LIC met on June 19, 2012 to discuss the detailed framework and the modalities for joint financing of viable infrastructure projects. The consortium aims to speed up the sanction process, bring uniformity in the approach and terms of lending; thereby facilitate early financial closure of the infrastructure project. The infrastructure project developer can approach the consortium secretariat for further details at infraconsortium[@] Read more