IFCI has revised its Benchmark Rate ‘IFCI Benchmark rate (IBR)’ from 10.20% p.a. to 10.40% p.a. The revision is effective from June 12, 2018. The IFCI Short-Term Benchmark Rate (IBR-ST) for Short Term Loans continues to remain unchanged at 9.00% p.a. with monthly rests.
IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.
