IDFC to raise lending rates by 1 pc

New Delhi, Mar 21 (UNI) Infrastructure Development Finance Company Ltd (IDFC) today said it would increase lending rates by 0.5 per cent to 1 per cent by April 1.

''Some banks have already hiked interest rates and IDFC will hike the rates by 50 to 100 basis points from the beginning of next fiscal,'' IDFC chairman Deepak Parekh told reporters.

Asked if this would influence the borrowings in the housing sector, he said, ''Demand for housing is huge and this small increase in interest rates is not likely to influence borrowings''.

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