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Housing Development Finance to make special provision

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Housing Development Finance to make special provision

Housing DevelopmentFinance Corp. Ltd. said April 6 that it plans to make an additionalone-time provision of 4.5 billion rupees for the quarter ended March 31.

The company said the move is to build an additional buffer againstany unexpected future risk.

The company will use a gain from the sale of in HDFC Standard Life Insurance Co. Ltd. for the special provisioning.

As of April 6, US$1 wasequivalent to 66.62 Indian rupees.