HDFC to finalise insurance partner

MUMBAI: HDFC Chairman Deepak Parekh on Thursday said the housing finance major will finalise the partner for its general insurance business within a few weeks. "We don't want to make a second Chubb Corporation as partner for our general insurance business," Parekh said. HDFC had been approached by a couple of companies for picking up a stake in the general insurance venture. Since HDFC "did not want to make a mistake again", it would select its partner after due deliberation, he said. Asked his views on prevailing asset prices, Parekh said prices were softening. "However, HDFC has decided not to tweak its interest rates," he said. "We will wait for the credit policy in July and then look at the cost of funds before taking a decision, he added.

Source: PTI