Housing Development Finance Corp Ltd's board has also given a nod to an increase in borrowing powers of mortgage lending major HDFC to Rs 6.5 lakh crore from Rs 6 lakh crore. HDFC's outstanding borrowing as of date stands at Rs 5.7 lakh crore. In an exchange filing, HDFC said today, "The said decision was taken since the outstanding borrowings of the Corporation as on date is approx. Rs. 5.70 lac crore and the Corporation would need to borrow further for its business purposes till the effective date of merger (with HDFC Bank Ltd)."