HDFC Chairman Deepak Parekh on Friday raised concerns over aggressive lending to real estate developers and cautioned home buyers against property developers' `too-good-to-be-true' offers.
Mr. Parekh also warned home buyers against schemes where property developers claim of paying interest on the borrowers' loans. He said that borrowers must not believe that developers' offers to pay interest on a borrower's loan for a specified period would be without a risk.
Over-regulation is a big hurdle in the success of Indian financial sector, HDFC Chairman Deepak Parekh said.
Mr. Parekh acknowledged that there was a need to be vigilant, but also warned that regulatory "overbearance" of the financial sector of India had become a key risk. He expressed his views on the topic during his speech at the Motilal Oswal Investors' conference on Monday.
The Chairman of HDFC, Deepak Parekh has said that there will be no change in the current teaser rates in home loans. Parekh was talking to media on the sidelines of an event that talked whether the teaser rates should be changed or not.
Parekh further added that if one of the top banks changes the stand on teaser rates than the others will follow too. So, it should be made a permanent affair.
After being the head of India's home loan giant, Housing Development Finance Corp for a 16 year long period, Deepak Parekh will reportedly step down from his current position as the firm's CEO on December 31. His place will be taken by the current VC & MD, Keki Mistry, who will then be designated as the VC & CEO.
Mr. Parekh, who has been with HDFC for 31 years, will however, continue to act as the mortgage lender's Non-Executive Chairman. HDFC is the parent company for all HDFC group firms, including HDFC Bank.
Satyam Computer Services is ready to have a new owner on April 13.
Deepak Parekh, Satyman board member and HDFC Chairman, announced that suitors will now have more time to submit their financial bids for the company.
He said that the financial bids will be opened at 9 am on April 13.
Moreover, the winner will be declared on the same day.
Mumbai, Jan 21, : The fraud-hit, Satyam Comuters Ltd is making attempts to secure funds and retain its international clients to regain the loss.
Speaking to Media, Deepak parekh, one of the members of Satyam's newly setup board said, "its new board would meet on Thursday and Friday to discuss issues regarding appointment of top executives and ways to raise funds.
Parekh said that they have received a mixed response from their domestic and foreign clients and they are not happy with the status of company's current accounts.