HDFC Ltd says has Rs909 crore exposure to one account identified for insolvency
Mumbai: Housing Development Finance Corp Ltd on Tuesday said it has an exposure of Rs909 crore to one of the accounts identified by the Reserve Bank of India’s internal advisory committee for insolvency proceedings.
The housing financier said there was no need to keep more money in the form of provisions against that account for the fiscal first quarter as it is adequately provided.
HDFC did not disclose the name of the account, but said the loan has not been marked as non-performing asset (NPA) as the end of March 2017.
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