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National Thermal Power Corporation (NTPC) tied up a term loan facility of 250 million US dollars with the State Bank of India, New York Branch as well as Singapore Branch of Mizuho Corporate Bank.
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365 360 Interest Calculation How it works: the lender pretends there are 360 days in a year when calculating the daily interest rate (6% / 360 > 6% / 365), then charges interest on 365 days (366 during a leap year). In using the 365/360 method on a loan with a rate of 6%, the lender will actually be charging an annual rate of 6.083% (.06 / 360 x 365).