close
Breaking news

A new line of argument has already come to dominate the public sphere: it’...read more The government has gone one step further to detect community spread of the coro...read more The government has issued an order to abolish the six allowances, including the...read more Aarogya Setu application launched by NIC is aimed to track COVID-19 affected pe...read more SEOUL| South Korea’s unemployment rate was unchanged in April as the coronavi...read more Amid the outbreak of Corona pandemic in the country, Indian government has been...read more Prime Minister Narendra Modi in his address to the nation on Tuesday indicated ...read more Corona infection in the country is taking a macabre form. So far, more than 74 ...read more Congress General Secretary Priyanka Gandhi Vadra has written a letter to UP Chi...read more On Tuesday, Prime Minister Narendra Modi announced a package of Rs 20 lakh cror...read more

Amid COVID-19, People’s Bank of China Buys 1.74 Cr Shares in HDFC

While the news of COVID-19 has engulfed the entire country and people are counting the number of affected/deaths in their surrounding due to the pandemic, People’s Bank of China has made an entry in HDFC Ltd by purchasing 1.75 crore shares.

This has led PBoC to acquire 1% of share holding in one of the largest housing finance lenders in the country. The purchase is thought to be carried out between January and March 2020, when the shares had fallen by 40%.

During the stock market crash in recent time, China has been buying stakes across major financial institutions in Asia. If it gets hold of 5% shares in the banks, it will get a seat in Boards and start influencing the board elections.

Story Page

Download Our Mobile App