As a goodwill gesture, India to pay 1.5% interest on Rs 43,000 crore Iran oil dues
"Although we believe there is no interest due, but as a goodwill gesture oil companies have agreed to pay the interest rate," a Finance Ministry official said. "Seven days US Libor plus 75 basis points equals to an interest rate of about 1.5 %."
Iran: External Affairs Minister Sushma Swaraj meets Foreign Minister of Iran Mohammad Javad Zarif during her visit to Iran on April 17, 2016. (Photo: IANS/MEA)