China’s central bank raised its stake over 1% in which Indian private entity as was disclosed during April 2020?
A. SBI
B. ICICI Bank
C. HDFC
D. PNB
Answer:C
China’s central bank raised its stake over 1% in which Indian private entity as was disclosed during April 2020?
A. SBI B. ICICI Bank C. HDFC D. PNB
Explanation: India’s largest mortgage lender Housing Development Finance Corporation Limited (HDFC) informed the stock exchanges on 11 April 2020 about China’s central bank - People’s Bank of China (PBOC) raising its stake in HDFC to 1.01% from 0.8%. PBOC’s 1.01% stake comprises 17.49 million shares of HDFC. This development was seen as a major one as India’s Finance Ministry was concerned that no red flag was raised over it.