Prudential to get out of finance

MUMBAI, Nov 19: Beleaguered Prudential Capital Markets is planning to wind up its entire fixed deposit business and merge all group companies into a single entity, Vinod Baid, CMD of the Prudential group said here today. "We have decided to move away from financial services as it was not feasible to lend in a falling interest rate scenario where cost of deposits are very high," he said.