Information about KMRL's agreement with bank for loan

Q: Hey, while talking to a friend, i came to know that the KMRL has entered into an agreement with a bank for a particular amount. Is it true?

David Oomen Mathews, Kochi

1st April 2015

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Replies (9)

Hey, the loan will be available for a floating interest rate of 9.95%, which is linked to SBI’s base rate of interest and with no attached charges including processing fee.

Amal Anthony, Kochi

4th April 2015

Comment

Here is some detail that you might find useful.This loan will be repaid by the government from its annual budget over 12 years. That should give the government plenty of time to repay, right?

Rajagopal Menon, Kochi

4th April 2015

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Yes, the loan agreement was signed on Saturday by Abraham Oommen, Director (Finance) of KMRL and Radhakrishnan M.K., general manager of DCB. The KMRL decided to take a supplementary loan for metro’s land acquisition as the State government was unable to provide sufficient funds

Smitha Ravi, Kochi

3rd April 2015

Comment

Here is some detail that you might find useful.This loan will be repaid by the government from its annual budget over 12 years. That should give the government plenty of time to repay, right?

Rajagopal Menon, Kochi

3rd April 2015

Comment

I wanted to tell you that cabinet approval is expected in a month and the agreement for the rest of the amount will be signed later on. That is some encouraging news on the government's part,

Sreekutty Nair, Kochi

3rd April 2015

Comment

Since Rs. 104 crore, which will be required for widening the Vyttila-Petta Road needs the State Cabinet’s approval, the metro agency and the bank signed an agreement for only Rs. 366 crore as the first tranche.

Micheal George, Kochi

3rd April 2015

Comment

Did you know that the bank had sanctioned a loan totalling Rs. 470 crore to the KMRL earlier this year. I hope this information helps you with whatever reason you want it for

Sathish Menon, Kochi

2nd April 2015

Comment

Well, according to Elias George, who is KMRL’s Managing Director they will begin availing of the loan from Monday. Lets hope they actually work on the development of the city with the money.

Rajeev Narayanan, Kochi

2nd April 2015

Comment

Yeah, it is true. The Kochi Metro Rail Limited (KMRL) signed an agreement with the Ernakulam District Cooperative Bank for obtaining a Rs. 366-crore loan for funding the Kochi metro’s land acquisition requirements.

Ayesha Bibi, Kochi

1st April 2015

Comment