The loan is raised for three years and three months tenure and benchmarked to a three-month term SOFR (Secured Overnight Financing Rate) with a margin of 2.85%. The cost comes to 9.58% a year, lower than lender's incremental cost of 10.41% for the past none months, Muthoot Microfin chief executive Sadaf Sayeed told ET. Read The Rest at :
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