Home » Business » NHAI to Sign MoU with SBI Tomorrow for a Long Term, unsecured Loan of Rs 25,000 Crore
The Union Minister for Road Transport & Highways, Shipping and Water Resources, River Development & Ganga Rejuvenation, Shri Nitin Gadkari at the signing ceremony of an MoU between NHAI and State Bank of India for long term, unsecured loan of Rs.25,000 crore, in New Delhi on August 03, 2018. The Minister of State for Road Transport & Highways, Shipping and Chemicals & Fertilizers, Shri Mansukh L. Mandaviya, the Secretary, Ministry of Road Transport and Highways, Shri Yudhvir Singh Malik and other dignitaries are also seen.

NHAI to Sign MoU with SBI Tomorrow for a Long Term, unsecured Loan of Rs 25,000 Crore

Newdelhi:3/8/18:National Highways Authority of India (NHAI) is getting an unsecured loan of Rs 25,000 crore from State Bank of India for 10 years with 3 years of moratorium on repayments. 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. An MoU in this regard will be signed between the two organizations in the presence of Shri Nitin Gadkari, Minister of Road Transport & Highways, Shipping, Water Resources, River Development & Ganga Rejuvenation in New Delhi tomorrow.NHAI had invited an Expression of Interest from Scheduled Commercial Banks to fund Rs. 25000 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.The loan sanctioned by SBI is unsecured.

There is no principal repayment liability for initial three years. After three years, the repayment would be done in 14 equal half yearly instalments. The total loan tenure is 10 years. NHAI can repay/ prepay it at any time without any prepayment penaltyThe total sanctioned amount of Rs 25000 Crore is to be disbursed within 31st March 2019. Rate of interest would be based on one month MCLR. Interest accrued on the amount actually outstanding will be paid on monthly basis. NHAI can draw the amount in any number of tranches, latest by 31st March 2019.NHAI has traditionally relied  on borrowing through long term bonds issued to various investors, including LIC, EPFO and other qualified investors, and  Tax Free bonds and Masala Bond issued in year 2017.

 

 

 

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Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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