Tuesday 4 November 2008

HDFC to 'wait and watch' before reducing rates: Parekh

India's premier mortgage lender, HDFC's Chairman Deepak Parekh on Tuesday said the lender would wait and watch for some time prior to taking
a call on a possible lending rate cut.

"We need to wait and watch (for) some time (before taking a call on interest rates). The deposit rates have to come down first before cutting lending rates," Parekh told reporters here on the sidelines of a function.

After Finance Minister P Chidambaram held a meeting with the public sector bankers today, Finance Secretary Arun Ramnathan would meet heads of private sector banks tomorrow to discuss the impact of recent liquidity infusion in the system and the need for lower interest rates.

Source: EconomicTimes

Posted by Harsh at 09:48

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