'Bad mortgages may rise marginally'� says HDFC Chairman

“Indian lenders may face marginally more bad mortgages because of higher interest rates,” said Deepak Parekh, chairman, HDFC, Indian leading home finance company, on July 12, 2007, according to a wire agency report carried in today’s newspapers.

Banks have raised interest rates 3 times since the beginning of the year.

HDFC will wait until 31 July for the Central Bank to announce its quarterly assessment of the economy before deciding on its lending and deposit rates, Parekh added.