NHAI to take unsecured loan of Rs 25,000 Cr from SBI

By Accommodation Times  Bureau

NEW DELHI

National Highways Authority of India (NHAI) will sign a MoU with SBI for an unsecured loan of Rs 25,000 crore for 10 years with 3 years of moratorium on repayments on August 3, New Delhi in presence of Nitin Gadkari, Minister of Road Transport & Highways.

This is the largest amount of loan to have been sanctioned to NHAI in one stroke by any institution. This is also the largest long-term unsecured loan sanctioned by SBI at a time to any entity.

“NHAI had invited an Expression of Interest from Scheduled Commercial Banks to fund Rs. 25,000 Crore as an unsecured loan for 10 years with 3 years of moratorium on repayments. In response to this EOI, SBI offered to fund the entire requirement of Rs 25000 Crore based on one-month MCLR”, Ministry of Road Transport & Highways said.





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