₹25,000 cr Credit Lint Offered to NHAI by LIC for Highway Projects
July 20, 2019
According to a media report, around ₹25,000 crores worth of line of credit was granted to the National Highways Authority of India (NHAI) by Life Insurance Corporation for the funding of highway projects. The funds will be disbursed over 30 years and the interest rate will be revised every decade.
An official said that 30 years is a long tenure which is important for infra projects. They also said that Union Roads and Highways Minister Nitin Gadkari recently met with LIC Chairman M R Kumar regarding the credit granting.