Mumbai, June 23: Housing Development Finance Corp, India’s top mortgage firm, will cut lending rates if its cost of funds come down, its chairman said on Tuesday.
“We will review our lending rates if cost of funds come down. If cost of funds come down we will pass it on to our customers,” Deepak Parekh said on the sidelines of an industry conference.
Indian Finance Minister Pranab Mukherjee has urged banks to follow the central bank in cutting rates to boost lending and lift a slowing economy.
—Agencies