HDFC’s Deepak Parekh fears of economic slowdown

HDFC’s Chairman Deepak Parekh has voiced his fear around a temporary Economic slowdown in the country. He feels that the reluctance by banks to lend money and limited availability of credit at some non-banking finance companies and housing finance companies’ end is further impacting the slowdown.

Parekh said that since major banks are holding back from lending money in the current situation, it is creating a ripple effect on other sectors as well. The upcoming festive season is expected to bring some positive sentiment in the market.

 Earlier, A M Naik, L&T’s Chairman also voiced a similar opinion.