Reliance Home Finance defaults on Rs 40 crore loan repayment to Punjab & Sind Bank

The company's total obligation is of Rs 200 crore on a 5-year tenure secured term loan at 9.25 per cent per annum from Punjab & Sind Bank, RHFL said in a regulatory filing. The company has net cash (including cash equivalent, liquid mutual fund investments, fixed deposits etc) of more than Rs 1,500 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2NZmjsV