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Wednesday, November 24, 2010

HDFC to infuse 1 bln rupees in insurance JV in FY12

Reuters

MUMBAI (Reuters) - HDFC Ltd over the next six months will infuse 500 million rupees ($11.27 million) in HDFC Standard Life, a leading Indian private insurer, its chairman said on Tuesday.

It will also infuse 1 billion rupees in the insurance firm, a joint venture between HDFC and Britain's Standard Life, in the next fiscal year, Chairman Deepak Parekh told reporters.

(Reporting by Nandita Bose; Editing by Bryson Hull)


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