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Auction to fix interest rate

VIJAYAWADA: For the first time in the city, Kolkata-based SERI Infrastructure Finance Limited conducted ‘Paison Ki Nilami’ (auction for rate of interest) at D.V.S. Aahwanam Kalyanamandapam on Friday. The company, which finances contractors and builders for purchasing instruments like tippers, loaders, transit mixers and earth movers, gave the opportunity of fixing the rate of interest on loan amounts to borrowers through an open auction.

Company executive director K.K. Mohanty said at a press conference that the company was playing the role of a facilitator between the manufacturers of infrastructure equipment and the contractors and builders.

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