9 largest PSU's Consortium for Infrastructure Project Financing

Mumbai, June 26, 2012 The country’s 9 largest PSU lenders have formed a consortium for

jointly financing infrastructure projects with project cost of Rs.1000 crore and above.

The public sector lenders viz., IDBI Bank, SBI, PNB, Bank of India, Bank of Baroda,

Canara Bank, Union Bank, IIFCL and LIC met on June 19, 2012 to discuss the detailed

framework and the modalities for joint financing of viable infrastructure projects. The

consortium aims to speed up the sanction process, bring uniformity in the approach and

terms of lending; thereby facilitate early financial closure of the infrastructure project.

The infrastructure project developer can approach the consortium secretariat for

further details at infraconsortium@idbi.co.in.