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Business News/ Industry / Banking/  HDFC Ltd says has Rs909 crore exposure to one account identified for insolvency
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HDFC Ltd says has Rs909 crore exposure to one account identified for insolvency

HDFC Ltd said it has an exposure of Rs909 crore to one of the accounts identified by the RBI's internal advisory committee for insolvency proceedings

HDFC 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. Photo: MintPremium
HDFC 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. Photo: Mint

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.

ALSO READ: HDFC seeks shareholders’ nod for 85,000 crore fund raise

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Published: 05 Jul 2017, 12:42 AM IST
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