IFCI has revised its Benchmark Rate with effective from January 09, 2019. IFCI Benchmark Rate (IBR) for Long Term Loans has been revised from 10.60% p.a. to 10.75% p.a., with monthly rests. The IFCI Short-Term Benchmark Rate (IBR-ST) for Short Term Loans continues to remain unchanged at 9.20% 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