People’s Bank of China pares state in HDFC to less than 1%

Central Bank cuts holding in the wake of centers curbs on the Chinese investments.

People’s bank of China (PBOC), the country’s central Bank, has cuts its stake in mortgage lender housing development Finance corp, ltd. in the quarter ended June 30., according to share holding data filed by HDFC with the stock exchange.

The Chinese central bank, which has held a 1.1% stake in the Indian lander at the end of march, reduced its holding to less then 1% during the April to June quarter, a period which coincided with heightened border tensions between the two countries. separately, in April, the centre had also imposed curbs from investments from china to ward off the possibility of takeovers of vulnerable Indian companies during the pandemic.

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