SBI Caps to Handle Loan Mobilization for Metro Phase-1
Efforts to secure a loan for the first phase of the Hyderabad Metro are set to accelerate. SBI Caps emerged as the L1 (lowest bidder) in the tenders invited by the state government for this purpose, agreeing to the condition of sourcing the loan at an interest rate of 4 percent. Consequently, the responsibility for loan mobilization is being entrusted to SBI Caps. It is well known that the government has taken over the Hyderabad Metro Phase-1 project from L&T and has assumed the substantial debt previously held by L&T under its own guarantee.
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